4 September 2008
SMITHS Group plc today announced the sale of an eight acre former operational site in Basingstoke, Hampshire for £16 million. Prior to the sale Smiths secured planning consent for more than 95,000 ft.² of retail warehouse development on this site.
The site has a current book value of £4.3 million and was occupied by part of the Smiths Aerospace division until October 2002, when it relocated to Cheltenham. Smiths Aerospace was sold to General Electric Company in May 2007.
Smiths Group Chief Executive Philip Bowman said: "This property sale is part of our drive to maximise returns on capital for shareholders through the disposal of surplus assets within the Group".
ENDS
General media enquiries
Contact our global media and communications team at:

Please note – the press team can only answer enquiries from accredited members of the press.
Related articles

Smiths Detection awarded contract to provide checkpoint screening technology for Dubai International Airport
Read our latest company news as Smiths Detection is awarded a new contract from DAEP to provide checkpoint screening technology for Dubai International Airport
Find out more![Davinci Gen V Gen Front View[36]](/media/wlocq5n4/davinci-gen-v-gen-front-view-36.jpg?width=431&height=214&format=webp&quality=100&v=1dbb81c2473de50)
Smiths Interconnect launches ‘DaVinci Gen V’ next-generation test socket
Read our latest company news as Smiths Interconnect launches ‘DaVinci Gen V’ next-generation test socket
Find out more