LONDON (Thomson Financial) - H.R. Owen Plc. said it has entered into a
conditional property surrender and lease agreement with landlord Ipcress Ltd.
and Docket Ltd, for which HR Owen will receive a surrender premium of up to 10.0
million pounds.
The deal relates to premises occupied by HR Owen's wholly owned unit Jack
Barclay in Wandsworth, London.
Under the agreement, Jack Barclay will be granted a new lease of the
premises on completion of the surrender of the existing lease. The new lease
will expire on March 25, 2012, and annual rent will be unchanged at 569,250
pounds.
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