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Wynnstay Properties PLC - London-based property development and investment company - Sells its St James House property in South West London for GBP2.7 million to Arvan Ltd, a Staffordshire, England-based real estate company. Completion is expected by the end of February. For the year ended March 25, the income received by Wynnstay from the property was GBP187,000 and at the same date the book value of the property was GBP2.5 million. Wynnstay says the funds received from the sale will be used to reduce borrowings in the short term.
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By Heather Rydings; heatherrydings@alliancenews.com
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