TIDMOPF 
 
RNS Number : 5306H 
Off-Plan Fund Limited (The) 
23 February 2010 
 
+-------------------------------+-------------------------------------+ 
|                               |                    23 February 2010 | 
+-------------------------------+-------------------------------------+ 
 
 
                            THE OFF-PLAN FUND LIMITED 
                                  (the "Fund") 
 
                             Disposal of Properties 
 
The Fund announces that on 22 February 2010, it exchanged contracts for the sale 
of its entire holding of units, comprising six two-bedroom flats, at Wimbledon 
House, Leicester. 
 
These properties were sold at the Allsop residential property auction held 
yesterday for a total cash consideration of GBP430,500. This equates to a sale 
price of GBP71,750 per flat. As at 31 March 2009, the date to which the Fund's 
most recent interim results were announced, the six apartments were valued at 
GBP764,000.  However, the most recent independent third party valuation of the 
six units commissioned by the Fund, as at 30 September 2009, valued the 
portfolio at GBP482,000, assuming a block sale. 
 
On exchange, the Fund received a 10 per cent. non-refundable deposit and, under 
the terms and conditions of the auction, completion is expected to take place by 
23 March 2010. 
 
Further to the announcement made by the Fund on 26 October 2009 and the 
approval, by Members, at a general meeting held on 4 December 2009 of the 
proposals to commence the orderly winding down of the activities of the Fund, 
the Directors confirm that they will provide Members with details of the quantum 
and timing of further share redemptions or other forms of distributions at the 
time of the announcement of its annual results for the year ended 30 September 
2009 which are expected to be released in March 2010. 
 
List of Contacts: 
 
Development Capital Management 
Andy Gardiner 
Tom Pridmore 
020 7355 7600 
 
Merchant John East Securities Limited 
(Nominated Adviser) 
Bidhi Bhoma/Simon Clements 
020 7628 2200 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 DISEAPADAEXEEEF
Off-plan Fund (LSE:OPF)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Off-plan Fund Charts.
Off-plan Fund (LSE:OPF)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Off-plan Fund Charts.