KCR Residential REIT Subsidiary Osprey Buys Leasehold For GBP365,000

27th Mar 2018 14:10

LONDON (Alliance News) - KCR Residential REIT PLC said on Tuesday that its subsidiary K&C Osprey Ltd acquired the 67-year lease for an apartment within one of its freehold retirement residential developments for GBP365,000 excluding costs.

Real estate agency said it intends to refurbish the apartment before presenting to the market.

KCR Chief Executive Officer Dominic White said: "KCR continues to implement its asset management strategy in the freehold Osprey retirement property portfolio to improve yield generation and increase shareholder value in the short to medium term."

Shares in KCR were untraded. Last traded on March 7 at 67.00 pence per share.

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