17th Apr 2024 10:45
abrdn Property Income Trust Ltd - real estate trust - Completes sale of two assets for a combined price of GBP13.2 million, which is a 1.5% premium to the December valuation. One is the Monkton Business Park in Hebburn, a single-let industrial unit let to Hitachi Construction Machinery Ltd, for GBP5.3 million, or a 6% premium. The other one is King's Business Park in Bristol for GBP7.9 million, a 1.25% discount to the December valuation. Deputy Fund Manager Mark Blyth says: "Following on from the two sales last month, we're pleased to have completed these further disposals at Hebburn and Bristol at a premium to the December valuation. As with the previous sales, the proceeds will be used to pay down the company's rolling credit facility." Read More
