Prestbury has exchanged contracts to acquire the long leaseholdinterest in Intec business park, Basingstoke. It will cost £13.2m.The seller is Royal Life.
Prestbury said the multi-let property, built in 1985, comprises20,716 sq m (223,000 sq ft) of space in five buildings on a securedestate of some 5.2ha (13 acres).
About 8,361 sq m (90,000 sq ft) is currently vacant. The leasehold isheld from the local council on a 250-year lease. Prestbury said theacquisition is being funded from cash resources but bank finance will besought shortly.Prestbury is now Nick Leslau’s main vehicle. The deal has rekindledhopes that AIM-traded Prestbury will merge with Carlisle, according tothe market analyst of The Independent. Nigel Wray is involvedwith both companies.
- Financial Times 18/12/97 page 22 (News Digest)
- The Times 18/12/97 page 30
- The Independent 18/12/97 page 26
