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Unbound Group PLC on Friday said it has sold a leasehold property investment near Manchester, England to the Coal Pension Properties Ltd for £1.8 million in cash.
The factory is currently leased to Fujitsu Services Ltd - which is part of Japanese IT services provider - Fujitsu Ltd - for an annual rent of £300,000, and is a legacy investment by Electra Private Equity which is not used for any of Unbound's current operations.
The owner of Hotter Shoes said it will use the proceeds to continue development its online retail platform.
Shares in Unbound were 6.3% lower at 37.00 pence on Friday in London.
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