Exercise of option to purchase Infinity House
The Character Group PLC has received notice of the exercise of an option to purchase its Infinity House property from Robertsbridge Property Co Limited. A deposit of £0.98 million has been received, with the remaining £8.82 million due on July 23, 2026. The net book value of Infinity House was approximately £8.6 million as of February 28, 2026, and the sale is expected to generate a profit before tax of around £1.0 million, with the proceeds to be added to the company's general cash resources.
Select text to share a quote on X · sign in to keep highlights & notes in your CCT notes
London: Friday, 26 June 2026: the Board of Character (AIM: CCT) is pleased to report on developments relating to the possible sale of the Group's warehouse and office complex at Infinity House, Townley Street, Middleton, Lancashire ("Infinity House").
Further to the announcement on 7 April 2026 of the lease terms agreed with Comfy Quilts Limited for its occupation of the Group's warehouse premises at Infinity House from 7 April 2026 and of the grant of an option to Robertsbridge Property Co Limited ("RPC") to purchase the freehold and leasehold titles to Infinity House (the "Option"), the Company's subsidiary Q-Stat Limited (the title holder) yesterday received notice of exercise of the Option from RPC. The deposit monies of £0.98 million have been received in cash by the Group's solicitors and the Option requires that completion of the sale and purchase is to take place, and the balance of the purchase price (a further £8.82 million in cash) is to be paid by RPC to Q-Stat Limited, on 23 July 2026.
The net book value of Infinity House was c.£8.6 million as at 28 February 2026. The expected profit before tax on disposal net of sale costs is c. £1.0 million. In the year ended 31 August 2025, Infinity House did not generate any income for the Group.
Upon completion and receipt of the balance of the sale price, the proceeds will be applied to the general cash resources of the Company. Shareholders will be updated in due course on completion of the sale or any other related developments.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.