Skip to main content

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:

Tom Steiner

Tom Steiner

Head of External Communications

+44 (0) 20 7004 1600

Email Arrow right icon

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

Related articles

Dubai Aviation Engineering Projects Has Signed A Deal With Smiths Detection 1 Copy

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 Call to action arrow icon
Davinci Gen V Gen Front View[36]

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 Call to action arrow icon
Cruise Ship

Smiths Detection secures deal to supply systems to major cruise lines

Find out more Call to action arrow icon
Sign up for updates Call to action arrow icon