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Zeno Capital Limited – Notice of Acquisition
Hamilton, Bermuda – 13 November, 2013 – In a filing with the Bermuda Stock Exchange (“BSX”), Zeno Capital Limited (the “Company”; Ticker: ZENOCAP.VI) released a notice relating to an acquisition of property. The filing stated:
“NOTICE CONCERNING THE ACQUISITION OF PROPERTY
The Company has acquired a 38.5% interest in the long leasehold of Numbers 111 and 113 Park Street ("Park Street"), Mayfair, London. Park Street is a mixed use commercial and residential property situated on the upper end of Park Street near Oxford Street, Central London. Park Street was acquired for a total gross purchase consideration of
GBP12,000,000 funded partly by a 3 year non-amortising senior debt facility from Deutsche Postbank at a cost of 3 month Sterling LIBOR plus 2%.
Details of the Asset
Park Street comprises 11,100 square feet of commercial and residential space. The company acquired the long leasehold interest in the property, which expires on the 24th of March 2123. The freeholder of Park Street is Grosvenor West End. The current passing rent on the occupational lease is GBP29.73/square foot per year, which is
substantially below the GBP87/square foot per year average for current Park Street Rentals. The Company has earmarked GBP3,000,000 to completely refurbish the property over the next 2 years.
For more information please contact Mr. Michele Maraschin at info@zenocap.com "
Bermuda Listing Sponsor:
Capital G BSX Services Ltd.
Ms. Kim Gibson
Tel: (441) 294-2471