LONDON (Alliance News) - Panther Securities PLC Tuesday said it has completed the acquisition of Park Road, Peterborough and paid for an extension to how long it has to acquire Queen Street, Mansfield.
Panther Securities said the Park Road acquisition was completed on March 21. It cost GBP2.0 million, GBP225,000 less than previously reported.
Queen Street, Mansfield, however, has not yet been acquired. Panther said it paid an additional GBP112,500 deposit in return for an extension to June 2015 to buy the property. The completion price remains at GBP2.0 million to GBP2.25 million, depending on whether certain conditions are met.
Panther had in 2013 exchanged contracts to acquire the two properties and had until June 30, 2014 to complete them.
Meanwhile, Panther gave an update on Wimbledon Television and Film Studios, whose trading business is 25% owned by Panther, has been seeking finance or new investors to upgrade some of their stage sets and film studios.
Panther said there has been strong interest, with at least two parties showing strong interest in the business of the studios (some of these also for the freehold).
"This exercise also brought out other interest from parties who are keen to lease elements of the studios, which could further assist the studio business," Panther said in a statement.
"However, separately, our announcement that stated we would be prepared to sell the freehold, has crystallised other, non-studio related property investor/ developer interest in this clearly desirable area. Panther is therefore pleased to announce that it has also had two further offers in relation to purchasing the freehold property and also potential interest for utilising the buildings for alternative use," Panther said.
Panther said it will discuss all proposals with the management of the studios, with a strong preference for a trade buyer.
It hopes to provide a further update at the time of the announcement of the group results for 2013 which will be made on April 30, it said.
Panther Securities shares were Tuesday quoted at 325.00 pence, up 3.2%.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Panther Securities (PNS)