An unknown buyer agreed to acquire Primark Unit Located In The Cooper Square Shopping Centre, Burton upon Trent from New Frontier Properties Ltd (MUSE:NFP.N0000) for £6.7 million on February 19, 2020. The purchase consideration for the property will be paid in cash. The transaction is subject to customary closing conditions, including approval of New Frontier shareholders and regulatory approvals. The proceeds of the transaction being used to reduce outstanding bank debt. This is in line with New Frontier’s strategy to dispose of property to comply with the terms of the Group’s loan facility which requires a £5.6 million repayment by July 30, 2020. On July 31, 2020, it is hereby to inform shareholders that it had been notified by the board of seller that, given that no alternative funding propositions have been made, seller waived the Condition and this was duly notified to the Purchaser on July 20, 2020.