22 December 2021
LOMBARD CAPITAL PLC
Disposal of property
The directors of Lombard Capital Plc (“Lombard” or “the Company”) are pleased to announce that, the Company has completed its sale of the property at Gaskell House 45-49 Rough Hey Road, Grimsargh, Preston, PR2 5AR for £2.075m plus VAT.
The property was acquired for £900,000 plus VAT in April 2020 and both repairs and additional capital expenditure of in excess of £2m were incurred to complete the property and make it saleable. This includes both property and finance costs which exceeded initial expectations due to unforeseen circumstances and have resulted in a significant loss on the property. Further details will be provided in the audited results which are due to be announced shortly.
The directors of Lombard accept responsibility for this announcement.
For further information please contact:
Tel: 07718 883813
AQSE Corporate Adviser:
Alfred Henry Corporate Finance Limited
Nick Michaels: 020 3772 0021