011_Disposal of Freehold Southall Property
Date : 01 June 1998
In accordance with the strategy outlined in the Chairman's statement dated 4 March 1997, Serco has disposed of its Southall property. The sale is in line with the Group's approach of devolving responsibility to operating units and contracts for the management of their business. Net sales proceeds of approximately £4.1 million have been realised which compares to a net book value of approximately £4.3 million, thereby resulting in a charge to the profit and loss account of £0.2 million. Serco will relocate from its Southall premises in the second quarter of 1998.
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