Tekmar Group plc (LON:TGP), a leading provider of asset protection technology and offshore energy services, has announced it has completed the sale of Innovation House and adjacent land, the former Subsea Innovation Limited freehold premises.
The consideration payable in cash (net of fees) at completion is £2.84m, in-line with the net book value of £2.84m as at 30 September 2025, the latest valuation date prior to the Disposal. The cash proceeds will be used to support the Group’s growth and general working capital requirements. Given the consideration is in-line with the net book value of the Property, there is no profit or loss on disposal for the Group.
Tekmar vacated the premises in 2024 following the disposal of SIL with the Property subsequently recorded in the accounts as an asset held for sale. In the year ended 30 September 2024, the Property did not generate any income for the Group. The property is being acquired by Trackwork Group Limited.
Richard Turner, CEO of Tekmar, commented: “We are pleased to have completed the disposal of this surplus property. This transaction is an important milestone for Tekmar, significantly bolstering our improving balance sheet, streamlining our asset base and
