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Balanced Commercial Property Trust Ltd - London-based commercial property investment trust - Agrees sale of three office holdings, two business park assets in Edinburgh and Aberdeen and one multi-let asset in London. Deal is ‘a strategic move to reduce its office exposure’. Holdings sell for total of £42.8 million, a 0.3% discount against their independent valuation in September. Balanced Commercial says transaction will complete in mid-January. Following completion, its office exposure will decrease by capital value to 25.4% from 28.4% at September. Company ‘continues to align its portfolio towards structurally supported growth sectors such as industrial & logistics, retail warehousing and operational alternatives.’ Fund Manager Richard Kirby says: ‘Our investment ethos has always focused on high quality real estate with strong fundamentals, and the pricing achieved on these sales underlines the importance of taking a quality-led approach. Our active management of the asset base ensures the portfolio is always evolving to capitalise on underlying market dynamics and we expect to make further positive announcements in the near future.’ Current stock price: 69.45 pence, up 0.5% 12-month change: down 23% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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