27th Mar 2015 07:20
LONDON (Alliance News) - FTSE 250-listed housebuilder and construction company Redrow PLC on Friday said it has signed a deal to sell a series of ground rent portfolio holdings to Adriatic Land 3 Ltd for GBP10.2 million.
Under the deal, Redrow Homes Ltd will sell its ground rent portfolios for Kingston Riverside, Kingston Riverwalk, Amberley Waterfront and 205 Holland Park, all based in London.
The Kingston Riverside and Kingston Riverwalk portfolios were sold for GBP8.3 million and legal completion of the deal completed simultaneously. Legal completion of the other two portfolios, being sold for GBP1.9 million, will take place in the company's next financial year, starting in July.
By Sam Unsted; [email protected]; @SamUAtAlliance
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