Energiser confirms sale of final Kingswood unit

Energiser Investments confirmed on Thursday that, further to its announcement on 6 April, the sale of the final unit at the Kingswood Park development had legally completed at the agreed price of £725,000.

The AIM-traded firm said Kingswood Park was developed by Vantage New Homes Red House - in administration.

Energiser was party to the debt funding of the project through a lending subsidiary.

“The final balance of the company's profit share will be released once Energiser reaches agreement with the developer's administrator regarding its costs of administration,” its board said in its statement.

“A further announcement will be made once the timing and quantum of the payment to the company are confirmed.”