Stobart Group to buy UK property portfolio for £12.35mln - Proactiveinvestors (UK)
Stobart Group (LON:STOB), the logistics specialist, is to buy 18 properties known as the 'Moneypenny' portfolio for £12.35 million.
The company has entered a conditional agreement with W.A. Developments International to acquire the entire issued share capital of the properties' holding company - WADI Properties Ltd.
The group also told investors that it expected to meet expectations for the year to February 29, 2012.
The properties, in the south east of the UK, are currently divided into 56 lettable areas, two of which the group occupies and six are currently vacant.
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