MKS / MAY 2017 /
23
DISPOSAL – OVER BOOK VALUE
Purchased May 2012
• £3.5m
• Let to IBM to February 2018 at £0.5m pa
Convent disposal April 2013
(edged blue)
• Residential consent obtained
• £1.2m sale price
Sale of balance exchanged February 2017
• £5.9m sale price
• £1m deposit
• 11.5% over book value (September 2016)
• Completion November 2017
Returns
• Total net sale proceeds: £6.4m
• 72% return on cost (from sales)
• Total rental income £3.3m
PINEHURST PARK, FARNBOROUGH
