REG - Roadside Real Estate - Disposal of Barkby Pub Co. Ltd

Roadside Real EstateAnnouncement

01/10/2024 07:00

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RNS Number : 3484G  Roadside Real Estate PLC  01 October 2024

Roadside Real Estate plc

 

("Roadside" or the "Company")

 

 

Disposal of Barkby Pub Co. Ltd

 

 

Further to the announcements of 27 June 2024 and 29 August 2024, Roadside
(AIM: ROAD) confirms the disposal of its pub subsidiary Barkby Pub Co. Ltd
(the "Disposal"). The Disposal continues Roadside's stated strategy to refocus
the business on roadside real estate assets.

 

About the Disposal

 

§ Barkby Pub Co. Ltd (trading as Barkby Pubs) has been sold to PS91
Hospitality Ltd, a pub operator that acquired the leases for four sites
previously operated by Roadside, as announced on 29 August 2024.

§ Barkby Pub Co. Ltd was a wholly owned subsidiary of the Company, which
holds the Coach & Horses freehold property, associated secured borrowings
and historic operational liabilities.

§ Barkby Pub Co. Ltd had a net liability position of £0.4m and is being sold
for a nominal value of a £1.

§ Roadside Real Estate Plc has committed to pay historic liabilities
totalling £0.4m.

§ In the period ended 30 September 2023 Barkby Pub Co. Ltd made a loss before
tax of c.£0.9m.

§ This is the final disposal required to be made of the pubs business by
Roadside and concludes this element of the Company's divestment programme.

 

Charles Dickson, Executive Chairman of Roadside, commented:

"We are pleased to have concluded the exit of our pub business and we continue
to focus on the execution of our roadside real estate strategy."

 

 

- Ends -

 

 

 

 

  For more information

 

 Roadside Real Estate PLC

 Charles Dickson, Executive Chairman

 c/o Montfort

 Cavendish Capital Markets Limited (Nomad and Broker)

 Carl Holmes / Abigail Kelly (Corporate Finance)                                +44 (0) 20 7220 0500

 Tim Redfern (ECM)

 Stifel Nicolaus Europe Limited (Financial Adviser and Joint Corporate Broker)

 Mark Young

 Jonathan Wilkes-Green

 Catriona Neville

 Montfort

 Olly Scott                                                                     +44 (0)78 1234 5205

 Georgia Colkin                                                                 +44 (0)75 4284 6844

 

About Roadside

Roadside is a real estate business focused on building and scaling a
high-quality portfolio of modern roadside retail assets, including modern EV
charging infrastructure.

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