REG - Character Group PLC - Lease of Infinity House warehouse&Grant of option

CharacterAnnouncement

Tue 14:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260407:nRSG5068Za&default-theme=true

RNS Number : 5068Z  Character Group PLC (The)  07 April 2026

 

 

The information contained within this announcement is deemed by the Company to
constitute inside information stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018. Upon the publication of this
announcement via the Regulatory Information Service, this inside information
is now considered to be in the public domain.

 

 

 

THE CHARACTER GROUP PLC

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

 

Designers, developers, and international distributor of toys, games, and
giftware

 

 

Lease of Infinity House warehouse

and

Grant of option to purchase Infinity House

 

 

 

London: Tuesday, 7 April 2026: the Board of Character (AIM: CCT) is pleased to
report on developments relating to the Group's warehouse and office complex at
Infinity House, Townley Street, Middleton, Lancashire ("Infinity House").
Following the Board's strategic decision to continue to base the Group's UK
operations at its Lees Brook Mill property in Oldham, Lancashire rather than
relocating to Infinity House, which is currently surplus to the Group's needs,
endeavours have been made to market the premises for either sale or rent.
These marketing efforts have resulted today in the following transactions
being entered into by Q-Stat Limited (Character's UK-based, wholly-owned,
property investment subsidiary), which holds the title to Infinity House on
behalf of the Group:

 

-      an agreement for the grant of, and simultaneous grant of, a lease
of the warehouse premises at Infinity House (the "Lease").  The agreement and
the Lease have been entered into with Comfy Quilts Limited ("CQ"), a
substantial, privately owned, trading company.  The Lease is of the 138,084
sq. ft. warehouse premises and associated curtilage and facilities at Infinity
House but excludes the office complex and associated parking area at the front
of the premises.

 

The Lease is for an initial term of five years, on a full repairing and
insuring basis, and is contracted out of the Landlord and Tenant Act 1954 Part
II tenant protections.  The rent payable under the Lease is c.£773,000
(£5.60 per sq. ft.) per annum.  The Lease entitles CQ to exercise a right to
bring the Lease to an end on the third anniversary of the date of grant of the
Lease by giving not less than six months' notice expiring on that
anniversary.  CQ is entitled to a rent-free period of three months; and

 

-      the grant of an option to acquire the entire Infinity House
property, including the warehouse facilities and the office complex (c. 19,408
sq. ft.) all on an overall site of c. 7.59 acres (the "Option").  The Option
has been granted to Robertsbridge Property Co Limited ("RPC"), a company
connected with CQ, and is exercisable until 30 June 2026.  A nominal sum of
£1 was paid upon grant of the Option.  If the Option is exercised, RPC will
have twenty business days within which to complete the purchase.  If the
Option is not exercised in accordance with its terms, it will lapse at
midnight on 30 June 2026.  The agreed price for Infinity House under the
Option is £9.8 million, payable in cash, of which 10% is payable on exercise
of the Option and the balance payable on completion of the purchase.

 

The Board has not yet made a determination as to the application of the
proceeds of sale if the Option is exercised.  Shareholders will be updated in
due course regarding the exercise or lapse of the Option.

 

 

 

 

 Enquiries to:
 The Character Group plc                                                 Group website: www.thecharacter.com (http://www.thecharacter.com)

 Jon Diver, Joint Managing Director                                      Product ranges can also be viewed at www.character-online.com

                                                                       (http://www.character-online.com)
 Kiran Shah, Joint Managing Director

 Hamun Shah, Group Finance Director

                                                                       FTSE sector: leisure goods:
 Office:  +44 (0) 208 329 3377

                                                                       FTSE AIM All-share: symbol: CCT
 Email: info@charactergroup.plc.uk (mailto:info@charactergroup.plc.uk)

                                                                         CHARACTER GROUP PLC CCT Stock | London Stock Exchange
                                                                         (https://www.londonstockexchange.com/stock/CCT/character-group-plc/company-page)

                                                                         Market cap: £42m

 Panmure Liberum                                                         Allenby Capital Limited

  (Nominated Adviser and Joint Broker)                                   (Joint Broker)

 Atholl Tweedie, Investment Banking                                      Nick Athanas, Corporate Finance

 Rupert Dearden, Corporate Broking                                       Amrit Nahal/Tony Quirke, Sales & Corporate Broking

 Tel:  +44 (0) 20 7886 2500                                              Tel:  +44 (0) 20 3328 5656

 TooleyStreet Communications Limited

 (Investor and media relations)

 Fiona Tooley

 Tel:  +44 (0) 7785 703523

 Email: fiona@tooleystreet.com (mailto:fiona@tooleystreet.com)

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  STREAALXESDKEFA



            Copyright 2019 Regulatory News Service, all rights reserved