REG - Sports Direct Intl. - Acquisition of property in Glasgow

FrasersAnnouncement

12/10/2018 07:05

RNS Number : 8191D
Sports Direct International Plc
12 October 2018
 


12 October 2018
 
SPORTS DIRECT INTERNATIONAL PLC
("Sports Direct" or the "Company")
 
Acquisition of property in Glasgow
Sports Direct International plc ("Sports Direct") announces that it has, through its wholly owned subsidiary SDI (Propco 66) Limited, agreed to acquire the heritable interest in 21/31 Buchanan Street, 8 & 24/28 Mitchell Street, 140/142 Argyle Street, 148/152 Argyle Street, 35/53 Buchanan Street and 34/50 Mitchell Street, Glasgow (the "Property") from Glasgow City Council as administering authority for The Strathclyde Pension Fund.
Sports Direct intends to continue to operate the Property as Frasers and will invest in the Property to further elevate and enhance this iconic department store. The consideration payable for the Property is £95m, which will be funded from the Group's cash resources.  Completion is to take place in January 2020.
Ends.
 



Sports Direct International plc
Cameron Olsen, Company Secretary
LEI: 213800JEGHHEAXIJDX34
 


 
T. 0344 245 9200
E. investor.relations@sportsdirect.com




KBA PR                                 
Keith Bishop


 
T. 0207 734 9995
E. sd@kbapr.com



 
 




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