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Newmark Security Enters Sale, Leaseback Deal for Business Premises in Poole
Friday 11 August 2017

11 August 2017 - UK-based electronic and physical security systems provider Newmark Security plc (AIM: NWT) has exchanged contracts for a sale and leaseback arrangement for a new business premises in Poole, Dorset that the company acquired in May, the company said on Friday.
 
The company's electronic division Grosvenor Technology, which delivers solutions in access control and workforce management, has had a presence in Poole for over ten years but its current rented premises will not be available from this summer.

Newmark Security therefore took the decision to purchase a property in the area.

The property comprises 11,685 sq ft of office space, has taken place and completion is expected to occur by the end of May 2017.
 
It was acquired in May from LINSAR UK Ltd. for a consideration of GBP 1.2m (USD 1.56m).
 
On Friday, the company said the property was sold for GBP 1.525m (USD 1.98m), which will result in the company realising GBP 360,000 after costs involved in the acquisition, refurbishment and subsequent disposal and repayment of the bank loan used to purchase the property.

The lease arrangement is for a period of 15 years with stipulated increases to the annual rental rate at the five and ten year anniversaries of the commencement of the lease contract.

Newmark Security said the sale and leaseback arrangements are expected to be completed in the coming weeks.
Details
Date Published: 11/08/2017
Target: New business premises in Poole, Dorset
Country: UK
Deal Size: 1.98m (USD)
Sector: Construction/Real Estate
Type: Divestment
Financing: Cash
Status: Agreed
Vendor: Newmark Security
Buyer:
Comment:
This is the same property Newmark Security bought in May, for GBP 1.2m

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