ACE LIBERTY AND STONE PLC
(''Ace'' or "the Company'')
Property Transaction
Ace Liberty and Stone Plc (AQSE: ALSP), the active property investment company, capitalising on commercial property investment opportunities across the UK, is pleased to announce the following property transaction.
The Company has exchanged contracts to acquire Loders Service Station, The Grove, Dorchester at a value of £2,080,000. The property comprises a SPAR convenience store and a BP branded fuel filling station, with over fifteen years remaining on the lease and no breaks. The annual rental income is £167,914 which increases to £185,391 in 2028 and £204,697 in 2033.
Ismail Ghandour, CEO, commented, "Following a successful refinancing earlier this year, Ace is in a strong position to take advantage of opportunities for growth that may arise. This acquisition further enhances our already strong portfolio, providing a long-term income stream which is very welcome in the current uncertain economic climate."
The Directors accept responsibility for this announcement.
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For further information, please contact:
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| Ace Liberty & Stone Plc |
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| Ivan Minter, Financial Director |
Tel: +44 (0) 20 7201 8340 |
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http://acelibertyandstone.com |
| Alfred Henry Corporate Finance Ltd, AQSE Exchange Corporate Adviser |
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| Nick Michaels |
Tel: +44 (0) 20 3772 0021 |
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| SP Angel Corporate Finance LLP Broker |
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| Vadim Alexandre / Rob Rees |
Tel: +44 (0)20 3470 0470 www.spangel.co.uk |
Notes to Editors
Ace Liberty & Stone Plc is a property investment company with a diverse portfolio of properties located across the UK, predominantly in the midlands and north of England, which are now the focus of Government incentives. The Company locates commercial properties which have creditworthy tenants, several years' rental income and the potential for an increase in value through creative asset management activity, such as change of tenancy, change of use or new lease negotiation. Ace has maintained a track record of generating strong profits at disposal of properties and achieving better-than average returns on capital. With strong support from shareholders and mortgage lenders, the Company is currently seeking to deploy its strong balance sheet and is seeking further investment opportunities in the UK to create value for existing and new investors.
Ace is run by a board with extensive property experience, an excellent network of contacts and relevant professional qualifications. This sector expertise has allowed the Board to identify opportunities and act promptly to secure investments.
For more information on the Company please visit www.acelibertyandstone.com
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