First Property sells office building in Warsaw

First Property, the commercial property fund management group, has pocketed a tidy profit on the sale of one of its two directly owned properties, an office building in Mokotow, Warsaw.

First Property, the commercial property fund management group, has pocketed a tidy profit on the sale of one of its two directly owned properties, an office building in Mokotow, Warsaw.

The company, which bought the building in November 2007, has raised PLN 11.95m - about £2.3m - from the sale which, after accounting for transaction costs and foreign exchange gains, resulted in a profit of around £0.12m for the company. The sale will not have any material bearing on the group's earnings for the current financial year, which ends on March 31st, 2013.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.