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BRIEF-GoGlobal Properties to acquire office building in Guernsey
February 9, 2015 / 2:12 PM / in 3 years

BRIEF-GoGlobal Properties to acquire office building in Guernsey

Feb 9 (Reuters) - Goglobal Properties Ltd :

* Exchanged contracts to dispose of Chiswell Street, a multi-let office block located in London, for a gross price of about GBP 48 million with a completion date set for 20 March 2015

* To buy Trafalgar Court, a modern A-grade multi let office building in Guernsey for a price of approximately GBP 61.4 million

* 30 million stg of Trafalgar Court purchase price will be funded though bank debt with balance being funded from available cash

* Based on current cost of five year fixed rate debt, Stenprop’s return on equity from acquisition of Trafalgar Court is expected to be in excess of 8 percent per annum

* Is at an advanced stage of agreeing acquisition of a further west end London office property Source text for Eikon: Further company coverage: (Bengaluru Newsroom; +44 207 542 1810)

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