Sports Direct International Plc Property Acquisition (8589U)
April 12 2016 - 2:00AM
UK Regulatory
TIDMSPD
RNS Number : 8589U
Sports Direct International Plc
12 April 2016
SPORTS DIRECT INTERNATIONAL PLC
12 April 2016
Acquisition of new Oxford Street freehold
Sports Direct International plc ("Sports Direct") announces that
it has, through its wholly owned subsidiary SDI (Oxford Street)
Limited, agreed to acquire the freehold property at 161-167 Oxford
Street, London and 36 Poland Street, London (the "Property") from
CIP Property (AIPT) Limited, a nominee of Aviva Investors.
Sports Direct intends to redevelop the Property, following which
it will use the retail part of the Property as a new FLANNELS.com
flagship store, and the office space above as the Group's new
London office replacing its former offices at New Cavendish Street.
The consideration payable for the Property is GBP108m, which will
be funded from a combination of its existing resources and the
Group's bank facility. Completion of the acquisition is expected to
occur by the end of April 2016.
Ends.
Sports Direct International plc
Dave Forsey, Chief Executive
Matt Pearson, Acting Chief Financial Officer
T: 0344 245 9200
KBA
Keith Bishop
T: 020 7734 9995
This information is provided by RNS
The company news service from the London Stock Exchange
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April 12, 2016 02:00 ET (06:00 GMT)
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