3rd Mar 2014 16:25
LONDON (Alliance News) - F&C UK Real Estate Investments Ltd Monday said it has sold two UK properties for a total of GBP7.7 million.
The real estate company said it disposed of Swift House in Rugby, owned by its subsidiary IRP Holdings Ltd, for GBP5.3 million at an initial yield of 9.4% on March 3. Swift House is let to Premier Foods Group Ltd until December 24, 2018, at a rent of GBP523,573 per year.
F&C also disposed of Unit 1 on King George Close In Romford, owned by its subsidiary IPT Holdings Ltd, for GBP2.5 million at an initial yield of 7.1% on February 28. The property is let to Crystal Windows and Doors Ltd until March 24, 2027, at a rent of GBP185,000 per year.
Both properties were valued at roughly the same as the sales prices at December 31.
F&C UK Real Estate shares were down 0.6% to 84 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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