Character Group sells UK overspill warehouse for £3.5m

Character Group announced on Thursday that contracts have been exchanged for the sale of its UK overspill warehousing facility at Vernon Works, Oldham in Lancashire.

The AIM-traded firm said the sale was for £3.5m in cash, excluding VAT.

It said completion was scheduled to take place on 29 January.

“The freehold to the facility was acquired by the group in July 2011 for a total cost of £1.78m, and had a net book value at 31 August of £1.44m,” the company said in its statement.

At 0827 GMT, shares in Character Group were up 0.96% at 419p.