13th Aug 2018 09:33
LONDON (Alliance News) - Regional REIT Ltd said Monday it completed the sale of an 829,851 square feet industrial estate in Cumbernauld, Scotland for GBP26.4 million.
The real estate investment trust said the sale price was 21% higher that the estate valuation at the end of 2017.
"We are pleased to conclude the sale of Wardpark, which reflects our opportunistic approach to recycling capital and supports our strategy of downselling assets in Scotland to allow the REIT to target acquisitions in England," said Stephen Inglis, chief executive officer of London & Scottish Investments Ltd, Regional REIT's asset manager.
Regional REIT shares were trading 1.0% higher at 95.90 pence each.
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