Inactive Instrument

McKay Securities PLC

Equities

MCKS

GB0005522007

McKay Securities to Seek Acquisitions

February 02, 2022 at 02:00 am EST

McKay Securities Plc (LSE:MCKS) will look for acquisitions. McKay Securities Plc (McKay) announced that it has exchanged contracts to sell the freehold interest of Great Brighams Mead, a prominent office building located in Reading's town centre, to residential property developer King's Oak. The sale price of £19.00 million (£224 psf) reflects a premium of 21.0% to the September 30, 2021 book value.

Completion of the sale is conditional on delivering vacant possession and is anticipated in April 2022. Proceeds from the sale will initially be used to reduce borrowings, prior to reinvestment in value add opportunities including acquisitions, development and asset management initiatives.

Latest news about McKay Securities PLC

McKay Securities Plc Reports Earnings Results for the Full Year Ended March 31, 2022	22-07-17	CI
Workspace Group Mulls Sale of Light Industrial Assets Portfolio from McKay Securities Deal	22-05-27	MT
McKay Securities Delists from London following Workspace Acquisition	22-05-09	MT
Workspace Completes Acquisition Of McKay Securities	22-05-06	MT
McKay Securities Plc(LSE:MCKS) dropped from FTSE All-Share Index	22-05-06	CI
Workspace Group plc completed the acquisition of McKay Securities Plc from Aberforth Partners LLP, The Iain Mckay Discretionary Grandchildren's Trust, Sutherland Securities Ltd, TR Property Investment Trust plc managed by BMO Investment Business Limited, Smith & Williamson Nominees Limited and other shareholders.	22-05-05	CI
McKay Securities Divests UK Office Building for $23.5 Million	22-05-05	MT
Kingsoak Limited completed the acquisition of Great Brighams Mead office building in Reading from McKay Securities Plc.	22-05-04	CI
English High Court Approves McKay Securities' Acquisition By Workspace	22-05-04	MT
McKay Securities Directors Affirm Support for Workspace's $354 Million Bid	22-04-13	MT
Slate Asset Management Confirms No Takeover Bid For McKay Securities	22-04-12	MT
Slate Asset Management decides against making an offer to UK's McKay Securities	22-04-12	RE
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McKay Securities Awaiting Competing Takeover Bid From Slate Asset Management	22-03-29	MT
S&P Places Workspace's Rating on CreditWatch Negative on McKay Securities Acquisition Plan	22-03-10	MT
Workspace to buy property firm McKay Securities for $362 mln	22-03-02	RE
McKay Securities Jumps 29% on $362 Million Offer From Property Peer Workspace	22-03-02	MT
Workspace Group plc agreed to acquire McKay Securities Plc from Aberforth Partners LLP, The Iain Mckay Discretionary Grandchildren's Trust, Sutherland Securities Ltd, TR Property Investment Trust plc managed by BMO Investment Business Limited, Smith & Williamson Nominees Limited and other shareholders.	22-03-01	CI
McKay Securities Agrees $28 Million Office Sale In UK	22-02-02	MT
McKay Securities to Seek Acquisitions	22-02-02	CI

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Company Profile

McKay Securities Plc is a United Kingdom-based real estate investment trust (REIT). The Company is focused on the development, management and refurbishment of office, industrial and logistics property in the South East and London. The Company's portfolio consists of The Mille, 1000 Great West Rd, Brentford, TW8 9DW; Oakwood Trade Park, Gatwick Rd, Crawley, RH10 9AZ; Portsoken House, 155 Minories, London, EC3N 1LJ, Rivergate, Newbury; Poyle Trading Estate, Blackthorne Rd, Poyle, SL3 0AH; Great Brighams Mead, Vastern Road, Reading, RG1 8DJ; 9 Greyfriars Road, Reading, RG1 1NU, Prospero, Redhill, RH1 1LQ; Swan Court, Worple Road, Wimbledon, SW19 4JS; 1 Castle Lane, London, SW1E 6DR; Theale Logistics Park, RG7 4XE; Evergreen Studios, Richmond, TW9 1NZ; 1-4 Willoughby Road, Bracknell RG12 8FB; Pegasus Place, Gatwick Rd, Crawley, RH10 9AY; 66 Wilson Street, London, EC2A 2JX; Switchback Business Park, Gardner Rd, Maidenhead, SL6 7RJ, and Sopwith Drive, Sopwith Dr, Weybridge, KT13 0U2.

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