| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
AEW UK REIT agrees to sell property in Solihull for £10.5m
StockMarketWire.com
|
Real estate investment trust AEW UK REIT said it had unconditionally exchanged contracts for the sale of Sandford House, Homer Road, Solihull for £10.5 million.
The sale price represented a significant profit by exceeding both the valuation level immediately prior to the sale by over 9% and the acquisition price by 94%, the company said. The asset was acquired in August 2015 for £5.4 million and had been producing a net income yield against the purchase price of 9.6%.
The sale was due to complete on 1 February 2021 and the company would receive income from the asset until this date.
The investment manager intended to 'reinvest sale proceeds on behalf of the company and has identified an attractive pipeline of suitable assets,' it added.
At 8:08am: (LON:AEWU) AEW UK REIT Plc share price was 0p at 78.4p
Story provided by StockMarketWire.com
|
|
|
|
|
|
