Austin Reed is selling and leasing back a distribution centre in Thirsk, North Yorkshire.
The initial pay-out will be £5.85m. It will use the net proceeds to pay down debt.
Seymour Pierce highlighted the fact the group’s Country Casuals chain had a valuable property asset in Regent Street, in the West End of London.
References: The Times 04/04/06 page 38 (Need to know), The Daily Telegraph 04/04/06 page B10 (DataBase), The Guardian 04/04/06 page 24 (Market forces)
