Purchase of Property
Commercial Group announces that it has completed the purchase of 73 acres of land adjacent to the the Company's existing Manston Site. The consideration is #5,110,000 in cash for a freehold interest in the property (the "Property").
The Property is arable land which the Company has purchased to allow for possible expansion of the Manston site at some time in the future. The purchase was funded by a further loan from Israel Discount Bank, with interest rolled over for two years.
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