Ace Liberty & Stone PLC Property Transaction (7311G)

TIDMALSP

RNS Number : 7311G

Ace Liberty & Stone PLC

21 July 2023

ACE LIBERTY AND STONE PLC

("Ace" or "the Company")

Property Transaction

Ace Liberty and Stone Plc (AQSE: ALSP), the active property investment company, capitalising on commercial property investment opportunities across the UK, is pleased to announce the following property transaction.

The company completed the acquisition of Egerton Park service station, Leicester Road, Melton Mowbray on 5(th) July 2023, following exchange on the 19(th) April 2023, for a consideration of GBP2,744,852. The property comprises a BP branded forecourt with a M&S branded convenience store. There is over ten years remaining on the lease with expiry in September 2033. The current annual rental income is GBP181,025 with a fixed increase to GBP204,814 in September 2023.

This acquisition follows the previously announced acquisition of Loders Service Station, The Grove, Dorchester, which completed on 1(st) February 2023.

Ismail Ghandour, CEO, commented, "The acquisition of Melton Mowbray and Dorchester further strengthens our portfolio and is consistent with our strategy of developing a diverse portfolio of assets with long-term secure income."

The Directors accept responsibility for this announcement.

- ends -

For further information, please contact:

 
 
 Ace Liberty & Stone Plc 
 Laura Yates, Finance Director          Tel: +44 (0) 20 7201 8340 
                                    http://acelibertyandstone.com 
 Alfred Henry Corporate Finance 
  Ltd, 
  AQSE Exchange Corporate Adviser 
 Nick Michaels                          Tel: +44 (0) 20 3772 0021 
                                              www.alfredhenry.com 
 
 SP Angel Corporate Finance LLP 
  Broker 
 Vadim Alexandre / Rob Rees              Tel: +44 (0)20 3470 0470 
                                                www.spangel.co.uk

Notes to Editors

Ace Liberty & Stone Plc is a property investment company with a diverse portfolio of properties located across the UK , predominantly in the midlands and north of England, which are now the focus of Government incentives. The Company locates commercial properties which have creditworthy tenants, several years' rental income and the potential for an increase in value through creative asset management activity, such as change of tenancy, change of use or new lease negotiation. Ace has maintained a track record of generating strong profits at disposal of properties and achieving better-than average returns on capital. With strong support from shareholders and mortgage lenders, the Company is currently seeking to deploy its strong balance sheet and is seeking further investment opportunities in the UK to create value for existing and new investors.

Ace is run by a board with extensive property experience, an excellent network of contacts and relevant professional qualifications. This sector expertise has allowed the Board to identify opportunities and act promptly to secure investments.

For more information on the Company please visit www.acelibertyandstone.com

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July 21, 2023 02:00 ET (06:00 GMT)

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