IN BRIEF: abrdn Property Income Trust lowers value of land in Scotland
abrdn Property Income Trust Ltd - Guernsey-registered investment trust that seeks higher yield and capital growth from active management of UK real estate - Net asset value per share is 7.45 pence on June 30, down 6.4% from 7.96p on December 31. This is mostly due to the negative movement of 0.52p in the unrealised valuation of Far Ralia, the trust's sole remaining property. The 3,668 acres of land in the Cairngorms National Park in Scotland is up for sale by Knight Frank at a guide price of GBP12.0 million, but its assessed value has been reduced to GBP8 million from GBP10 million. The company had hoped to sell Far Ralia in the first half of the year. "While several discussions have taken place with interested parties, given the unique nature of the property and a relatively narrow set of potential purchasers, it is difficult to estimate when, and at what value, the property will be sold," it says. Total net asset value on June 30 is GBP28.4 million, including GBP19.3 million in cash. Read More