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AIREA plc announced on 30 September 2025 that it exchanged contracts for the disposal of its investment property in Bury, Greater Manchester, to M&T Investments Group Limited. The total cash consideration is £4,175,000, with legal completion expected on 3 October 2025. The net consideration of £4,146,250 is similar to the property's carrying value of £4,100,000 as of 31 December 2024.
| Date | 30 Sept 2025 |
| Time | 16:12:23 |
| Category | Disposals |
| ID | 4729B |
30 September 2025
AIREA plc
("AIREA", the "Group" or the "Company")
Divestment of Investment Property
AIREA plc (AIM: AIEA), the UK design-led specialist flooring company, supplying both the UK and international markets, announces that it has today exchanged contracts on the disposal of its investment property in Bury, Greater Manchester (the "Investment Property"), to M&T Investments Group Limited for a total cash consideration of £4,175,000 (the "Disposal"). Legal completion of the Disposal is expected to take place on 3 October 2025.
The total consideration includes a rent-free period of one month amounting to £28,750. Deducting this from the total consideration gives a net consideration of £4,146,250 which is similar to the carrying value of the property on the balance sheet as at 31 December 2024 of £4,100,000.
In the year ended 31 December 2024, the Investment Property generated a rental income of £345,000.
The proceeds from the Disposal will be applied to the repayment of all bank debt, thereby strengthening the Group's cash position considerably. This will in turn provide the Group with additional financial flexibility during a period of significant investment ahead of the expected future growth of the Group.
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For further information please contact:
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AIREA plc Médéric Payne, Chief Executive Officer Conleth Campbell, Chief Financial Officer |
Tel: +44 (0) 192 426 6561 |
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Singer Capital Markets Peter Steel / Sam Butcher |
Tel: +44 (0) 20 7496 3000 |
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Northstar Communications Sarah Hollins |
Tel: +44 (0) 113 730 3896 |
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This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"). Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
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Notes to Editors
AIREA plc is a UK design-led specialist flooring company, supplying both UK and international markets. Since 2007, the Group has been focused solely on floor coverings and enjoys a strong and growing brand position within the commercial flooring market.
The Group's core brand Burmatex® is one of the UK's leading designers and manufacturers of commercial carpet tiles and planks. Burmatex® focuses on the design and creation of sustainable innovative flooring solutions to meet the needs of architects, specifiers and contractors with a continuously developing range to suit the education, leisure, commercial, hospitality and public sectors. The brand was acquired by AIREA in 1984.
The Group was admitted to trading on AIM of the London Stock Exchange on 12 December 2007.
For further information, please visit: https://aireaplc.com/.