Interserve PLC Interserve agrees sale of Haymarket
June 05 2018 - 4:36AM
RNS Non-Regulatory
TIDMIRV
Interserve PLC
05 June 2018
5 June 2018
Interserve AGREES sale of HAYMARKET
International support services and construction group,
Interserve, today announces that its Joint Venture with Tiger
Developments, Edinburgh Haymarket Developments Limited ("EHDL"),
has agreed the sale of the Haymarket site in Edinburgh to M&G
Real Estate, with gross sales proceeds of GBP49.1 million.
The Haymarket site, in the heart of Edinburgh's financial and
commercial centre, is the most significant development project to
come available in the city in over a decade. The three-acre site
has planning permission for a mixed-use scheme including three
contemporary office buildings (370,000 sq. ft. / 345,000 sq.m),
retail space, a 190 bedroom hotel and a 170 unit apart-hotel.
With 'grade A' office space at a premium in the city, the
gateway site is widely considered to be the best office development
site outside London. The site boasts a location next to Edinburgh's
Haymarket train station and a Trams stop connecting to Edinburgh
International Airport.
Dougie Sutherland, executive director at Interserve, said:
"We are delighted to have agreed the sale of the Haymarket site
to M&G. The sale follows a strategic review of the project and
is part of our overall transformation plan, allowing us to realise
our investment at a time that is right for both the development and
the market."
Joint agents JLL and Dougray Smith acted for EHDL.
- Ends -
For further information please contact:
Robin O'Kelly, Interserve +44 (0) 7786 702526
Martin Robinson +44 (0) 207 3534200
Tulchan Communications
About Interserve
Interserve is one of the world's foremost support services and
construction companies. Everything we do is shaped by our core
values. We are a leader in innovative and sustainable outcomes for
our clients and a great place to work for our people. We offer
advice, design, construction, equipment, facilities management and
frontline public services. We are headquartered in the UK and
FTSE-listed. We have gross revenues of GBP3.7 billion and a
workforce of circa 75,000 people worldwide.
www.interserve.com
For news follow @interservenews
LEI: 549300MVYY4EZCRFHZ09
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