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Motorpoint Group PLC - Derby, England-based vehicle retailer - Completes the sale and leaseback of its freehold branch in Stockton on Tees, for total £5.0 million. Simultaneously, the company enters into a 25-year lease at an initial rent of £350,000 a year. Adds it has reached an agreement with its lenders to increase its available stocking facility by £30 million to £195 million.
Chief Executive Mark Carpenter says: ‘Both transactions provide further firepower for us to invest in future growth strategies across multiple initiatives in line with our strategy.’
Current stock price: 260.40 pence
12-month change: up 2.1%
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