Source - RNS
RNS Number : 3762M
Electronic Data Processing PLC
12 October 2016
 

12 October 2016

 

Electronic Data Processing PLC ("EDP")

Disposal of Surplus Freehold Property

 

EDP announces that it has exchanged contracts to dispose of its surplus freehold property in Milton Keynes to The Church of Pentecost - UK for a cash consideration of £1.2 million. Costs associated with the disposal are estimated to be £21,000. The property had a net book value of £1.18m at 30 September 2016. The net sales proceeds will be added to existing cash resources.

The property has been leased to a charitable organisation on a short-term basis and, whilst this arrangement has not generated significant rental income, it has mitigated business rates of £53,000 per annum. In addition to securing these savings on a permanent basis, the disposal will result in additional cash savings of approximately £20,000 per annum.

-ENDS-

 

Enquiries:

Julian Wassell

James Storey

Toby Mountford

Chief Executive

Finance Director

Citigate Dewe Rogerson

0114 262 2010

0114 262 2010

020 7638 9571 / 07710 356611

 


This information is provided by RNS
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