News blog
Discover Leisure
- BY: Andrew Hore |
- POSTED: 03/02/2011 |
Caravan and motor homes retailer Discover Leisure has completed the sale of a Darlington property for £385,000.
This represents a £213,000 gain on the book value of £172,000 for the 1.3 acre site. The cash will pay off the remaining £274,000 of the asset disposal loan from NatWest.
Discover has secured a one year lease on the Darlington site from the new owner and intends to move to a new development on its main Darlington site by the time the lease finishes. The development will cost around £200,000.
In November, Discover sold its site in Havant for £1.65m – a gain over book value of £150,000.
Net debt was £11.5m at the end of August 2010.
Last November, Stancroft Trust sold 700,000 shares, reducing its stake in Discover to 3.74%.
Simon Dixon resigned as a director at the AGM last December.
At 1.55p a share, down 0.075p, Discover is valued at £2.4m.
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