Portfolio Update

LONDON--()--

GRESHAM HOUSE PLC

("Gresham House" or the "Company")

Property update

The Board of Gresham House is pleased to announce that, on 29th April 2014, contracts were exchanged with Persimmon Homes Limited for the sale of 20 acres gross of the 28 acre site at Newton-le-Willows owned by the Company for £7.43m in cash, plus overage, conditional upon Persimmon obtaining satisfactory detailed planning permission. Outline planning consent for residential use has already been granted.

The sale proceeds are payable in four instalments over a period of 42 months from completion which is expected by September 2014.

Enquiries:

Gresham House plc

John Lorimer, Property director

Brian Hallett, Finance director and company secretary

 

020 7592 7020

01489 570 861

 
Westhouse Securities Limited

Richard Johnson

020 7601 6100

ENDS

Short Name: Gresham House plc
Category Code: PFU
Sequence Number: 416049
Time of Receipt (offset from UTC): 20140430T165833+0100

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