StockMarketWire.com - Northamber said it had exchanged contracts to sell a warehouse facility in Weybridge, Surrey to OXW Catalina for £16.4m.

The sale was expected to complete by the end of July.

The warehouse comprised around 80,000 square feet on a five-plus acre site accommodating additional car parking .

The company acquired the freehold in April 2012 for £6.4m, having occupied the premises since December 1999, and as of 31 December 2018 it had a net book value of £6.0m.

'With the demise of an adequately profitable opportunity in the high cubic volume personal computer sector, the company's utilisation of the warehouse has declined materially over the last give years or so,' Northamber said.

As part of the Sale, OXW had agreed to a two-year leaseback of the warehouse to Northamber, at a cost of £17k per annum.


At 2:21pm: [LON:NAR] Northamber PLC share price was +14.5p at 43.5p



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