Sale of land

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Sale of land

RNS Number:0960A
Property Acquisition & ManagementLd
24 June 2004




Further to the update contained in the recent report and accounts, the Company
is pleased to announce that contracts have now been exchanged with Persimmon
Homes for the sale of approximately 43.5 acres of land at Ashington,
Northumberland.  The total consideration of approximately #20 million is in line
with expectations and the land is being sold in three tranches over the next
three years.  The Company has held back the release of approximately a further
16 acres on which residential planning has already been granted.





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