Surplus Property Update
Robinson PLC announced the sale of Cannon Mill, part of the Wheatbridge site, to Middleton Structures Limited. Exchange occurred on October 3, 2025, with completion expected January 30, 2026, pending cash receipt. The consideration payable at completion is £135,000, with Robinson incurring £20,000 in costs, resulting in net cash proceeds of £115,000. These proceeds will be used to reduce current bank debt. The property, currently vacant, had a book value of £71,615 as of December 31, 2024. The Group intends to continue disposing of surplus properties to reduce indebtedness and develop its packaging business.
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In line with our Surplus Property Update on 7 August 2025, the Company is pleased to announce the sale of Cannon Mill, which is part of the Wheatbridge site and one of the three properties previously referred to as sold subject-to-contract. Cannon Mill has been sold to Middleton Structures Limited with exchange occurring on 3 October 2025 and completion expected on 30 January 2026, subject to cash being received.
The consideration payable at completion is £135,000 and Robinson will incur £20,000 in costs. The net cash proceeds of £115,000 will be used to reduce current bank debt. The property is currently vacant, and the book value was £71,615 as at 31 December 2024.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.