Divestment of Investment Property

Airea

30/09/2025 16:12

RNS Number : 4729B

Airea PLC

30 September 2025

 

                                                                  

30 September 2025

AIREA plc

 

("AIREA", the "Group" or the "Company")

 

Divestment of Investment Property

 

AIREA plc (AIM: AIEA), the UK design-led specialist flooring company, supplying both the UK and international markets, announces that it has today exchanged contracts on the disposal of its investment property in Bury, Greater Manchester (the "Investment Property"), to M&T Investments Group Limited for a total cash consideration of £4,175,000 (the "Disposal"). Legal completion of the Disposal is expected to take place on 3 October 2025.

 

The total consideration includes a rent-free period of one month amounting to £28,750. Deducting this from the total consideration gives a net consideration of £4,146,250 which is similar to the carrying value of the property on the balance sheet as at 31 December 2024 of £4,100,000.

 

In the year ended 31 December 2024, the Investment Property generated a rental income of £345,000.

 

The proceeds from the Disposal will be applied to the repayment of all bank debt, thereby strengthening the Group's cash position considerably. This will in turn provide the Group with additional financial flexibility during a period of significant investment ahead of the expected future growth of the Group.

 

- Ends -

 

For further information please contact:

 

AIREA plc
Médéric Payne, Chief Executive Officer
Conleth Campbell, Chief Financial Officer
Tel: +44 (0) 192 426 6561
Singer Capital Markets
 (Nominated Adviser and Sole Broker)
Peter Steel / Sam Butcher
Tel: +44 (0) 20 7496 3000
Northstar Communications
 (Financial Media and PR)
Sarah Hollins
Tel: +44 (0) 113 730 3896
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"). Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

Notes to Editors

 

AIREA plc is a UK design-led specialist flooring company, supplying both UK and international markets.  Since 2007, the Group has been focused solely on floor coverings and enjoys a strong and growing brand position within the commercial flooring market.

 

The Group's core brand Burmatex® is one of the UK's leading designers and manufacturers of commercial carpet tiles and planks. Burmatex® focuses on the design and creation of sustainable innovative flooring solutions to meet the needs of architects, specifiers and contractors with a continuously developing range to suit the education, leisure, commercial, hospitality and public sectors. The brand was acquired by AIREA in 1984.

 

The Group was admitted to trading on AIM of the London Stock Exchange on 12 December 2007.

 

For further information, please visit: https://aireaplc.com/. 

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