28th Mar 2018 12:12
The real estate investor, which invests in office and industrial properties in
The warehouse was originally built by McKay in 1974 and is currently occupied by World Duty Free Group at a rent of
"This sale highlights the ongoing appetite for well-located, well-let assets in the South East of
"Having developed the building in the mid 1970's, we have held the property for over 40 years and it has provided a steady stream of reliable, growing income during that time. Given the value created by the recent re-gear, the age of the building and the interest we received, this was an opportune time to dispose of the asset and we are pleased with the price achieved," Perkins noted.
McKay emphasised the sale price was "significantly ahead of book value".
"We will use the proceeds to strengthen the balance sheet and to re-invest in higher growth opportunities where we have a strong track record of delivery; be it through acquisition, development or asset management initiatives", Perkins added.
Shares in McKay were 1.8% higher at
Related Shares:
MCKS.L