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Company Caffyns PLC
TIDM CFYN
Headline

Property Disposal

Released 15:49 30-Nov-2012
Number 4860S15

RNS Number : 4860S
Caffyns PLC
30 November 2012
 



 

 

PROPERTY DISPOSAL

 

 

 

Caffyns plc ("the Company") announces that it has today exchanged contracts with McCarthy & Stone Retirement Lifestyles Limited for the sale of its vacant freehold site at Hailsham, East Sussex for £1.4 million conditional upon certain conditions being satisfied. The principal condition is that an appropriate planning approval is granted for about 55 Later Living units. Once the conditions have been satisfied, the consideration is payable in cash and the proceeds will be applied in reducing the Company's borrowings. The consideration is approximately equivalent to the current book value of the property.

 

 

 

30 November 2012

 

 

 

Enquiries:

 

Simon Caffyn

Chief Executive

 

Mark Harrison

Finance Director

 

Telephone:  01323 730201

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Property Disposal - RNS