10 October 2019
Christie Group plc
("Christie Group" or the "Company")
Freehold property
Christie Group plc (CTG.L), the leading provider of Professional & Financial Services and Stock & Inventory Systems & Services to the hospitality, leisure, healthcare, medical, childcare & education and retail sectors, is pleased to announce that, as previously advised in the Interim Results to 30 June 2019, the realisation of the freehold value of Pinder House in Milton Keynes has now been completed.
The property has been sold by P.H. UK Limited to Milton Keynes Development Partnership LLP for cash consideration of £5.1m. The property will continue to be occupied by Christie Group businesses following the sale of the property, under the terms of an occupational lease.
Dan Prickett, Chief Operating Officer, commented: "I am pleased that the sale of the property, which was anticipated in our recent Interim Results, has now been completed. It realises the value of the property at an amount significantly above its net book value of £2.0m and in excess of the asking price and will allow us to redeploy these cash resources within our business. Our continued occupation of the building means we have avoided any disruption to our businesses which continue to operate from the Milton Keynes office."
Enquiries:
Christie Group plc
David Rugg
Chairman and Chief Executive 020 7227 0707
Dan Prickett
Chief Operating Officer 020 7227 0700
Shore Capital
Antonio Bossi / Sarah Mather
Nominated Advisor and Broker 020 7408 4090
Notes to Editors:
Christie Group plc, quoted on AIM, is a leading professional business services group with 43 offices across the UK, Europe and Canada, catering to its specialist markets in the hospitality, leisure, healthcare, medical, childcare & education and retail sectors.
Christie Group operates in two complementary business divisions: Professional & Financial Services (PFS) and Stock & Inventory Systems & Services (SISS). These divisions trade under the brand names: PFS - Christie & Co, Pinders, Christie Finance and Christie Insurance: SISS - Orridge, Venners and Vennersys.
Tracing its origins back to 1846, the Group has a long-established reputation for offering essential services to client companies in agency, valuation services, investment, consultancy, project management, multi-functional trading systems and online ticketing services, stock audit and inventory management. The diversity of these services provides a natural balance to the Group's core agency business.
For more information, please go to www.christiegroup.com.
