The UK’s leading multi-redemption voucher and prepaid gift card business

Sale of Dock Road North Site

30 September 2010

Park, the Birkenhead based voucher and prepaid gift card provider, announces the unconditional sale of its Dock Road North site to a major housebuilder for a cash consideration of £1.815 million.  The property had a conditional sale agreement in place as described in note 16 to the group's financial statements for the year ended 31 March 2010 when the site was valued at £0.725 million.

The consideration will be paid to Park as the houses to be built on the site are sold with the total consideration to be paid by 5 September 2014.  Monthly interest is payable to Park on the outstanding consideration in the period up to 5 September 2014 at 5.5 per cent above the Royal Bank of Scotland base lending rate.