Brief: Ho Bee Land unit enters sale and purchase agreement to acquire a freehold property in London

Ho Bee Land

24/10/2014 11:01

Oct 24 (Reuters) - Ho Bee Land Ltd  HBEE.SI : 
 * Unit entered into sale and purchase agreement with st martin's property 
   limited to acquire a Freehold property in London 
 * Property is acquired for recurrent income and will be held as a long term 
   investment 
 * Says total purchase consideration for the property is £43.9 million 
 * Premises have been fully leased until year 2026, producing a current annual 
   rental income of approximately £1.67 million 
 * Says the annual income is highly reversionary with Q3 2016 rent review 
   providing an opportunity for rent increase 
 * Purchase of the property will be financed by internal funds and bank 
   borrowings 
 * Purchase of property not expected to have material impact on consolidated 
   earnings per share, net tangible assets per share of group for current FY 
 * Source text for Eikon  ID:nSNZ6ls02S  
 
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