City Site Estates to go private
City Site Estates, the tiny quoted company run by Louis Goodman, is going private. Goodman announced this week that he is buying the company for £4.4m through hisprivate family-owned firm, Woodvale Estates. Woodvale has agreed to pay 26p per share, which is 9% more than net asset value and 44% above City Site’s share price. City Site has a market value of just £3m. Its move follows that of Dwyer Estates, which left the stock market last year.
Rawnsley joins Freeport Leisure
Factory outlet specialist Freeport Leisure has appointed Jonathan Rawnsley as development director. Rawnsley will join Freeport next week after spending 11 years at Capital Shopping Centres. Freeport’s estates director David Swann will retire when he reaches 60 in 18 months’ time.
profits slide at Bradford Trust
Profits at Bradford Property Trust, the largest owner of private rented homes, slipped from £16.3m to £15.7m in the six months to October. The company blamed lower-than- expected sales.
