# W.H. Ireland Group Plc Sale of Freehold Property in Manchester

- Link: https://www.directorstalkinterviews.com/w-h-ireland-group-plc-sale-freehold-property-manchester/412722086
- Published: 2017-01-24T07:04:50+00:00
- Author: Giles Arbor

W.H. Ireland Group Plc ([LON:WHI](https://www.directorstalkinterviews.com/broker/wh-ireland))
confirms today that it has, through its wholly owned subsidiary Readycount Limited,
disposed of its freehold property at 11 St James`s Square, Manchester (the “Property”)
to Beech Developments (Manchester) Limited (“Beech Developments”) for £5.27 million,
in cash. The sale proceeds represent a premium to the carrying book value of £4.75
million.

At the same time, the Company has entered into a lease with Beech Developments, 
pursuant to which the employees of the Company’s Manchester office will remain in
the Property for at least a further five months, and thereafter will move to another
leased property in Central Manchester.

The Company will use the sale proceeds for general corporate purposes.

> **Commenting on the transaction, W.H. Ireland Group Plc Chief Executive Officer,
> Richard Killingbeck said:** “We are pleased to be able to report a further successful
> element of the transformation programme at WH Ireland. The proceeds of this sale
> will bring greater flexibility to the business in the future as we look to continue
> to refocus and invest in both divisions of the Company. Our Manchester presence
> in the future will be enhanced by a new central office location focused upon the
> provision of our Private Wealth Management and Wealth Planning services and the
> majority of our new middle office team. This move to a new office, once completed
> in the summer of 2017, will reinforce our commitment to both Manchester and the
> North West.”

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