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NFC sells its largest site

14th May 1983, Page 6
14th May 1983
Page 6
Page 6, 14th May 1983 — NFC sells its largest site
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THE NATIONAL Freight Consortium Property Group has sold its largest site, at Temple Meads, Bristol, but still retains a 55 per cent interest in the redevelopment of the site.

The 14-acre site is to be redeveloped in four parts and will be made available to light industry. The four parts will comprise offices, industrial buildings and underground car parking over a total of 420,000 sq ft.

The Property Group received £1 .5m from Royal Life, specialist life assurance company, for the land.

The Group owns 950 sites around the UK with a value of around £70m. Property director Jack Mather, said that the Group was continually on the look out for good properties in which to invest. At the same time, if any of the properties already owned by the NFC proved unsuitable to keep on, they would be sold and the money made from the sale would be pushed back into the Group.

Mr Mather told CM that the workforce of the NEC were unsure how the Property Group operated and often felt anxio when properties were sold.

Selling sites was not just matter of getting rid of inve ments, but more a case of trar ferring assets, he explained. A to back this up, he pointed c that the Group had bought la in Dunstable, Bedfordshir Kentish Town, London and Wi London.

The Group made a £5.F. profit for the first 24 weeks March 19 this year.

• Half-year results from t National Freight Consortit, show a E3.6m profit after terest and tax.

The figures for the 24 weeks March 19 show a £4.8m tradi profit on E257m turnover. F tamed profit was £2.8m.

A 5p second interim divide has been paid on A and B or nary shares, and the El shat have been revalued at £1.60.

• See p12.

Tags

People: Jack Mather
Locations: London, Bristol

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