10th Aug 2009 13:26
ING UK Real Estate Income Trust Limited (IRET)
10 August 2009
ING UK Real Estate Income Trust makes asset disposal on the Isle of Man
ING UK Real Estate Income Trust Ltd ("IRET" / "the Company"), a Guernsey registered closed-ended investment company, today announces that it has exchanged contracts and simultaneously completed the sale of Royal London House, Douglas, Isle of Man for a total consideration of GBP 7.1 million.
The sale to the tenant, which is in line with the June 2009 valuation, follows the positive settlement of the rent review earlier this year.
Michael Morris, Fund Manager, comments:-
The sale of this non core, offshore asset, will provide the Company with greater operational flexibility and as such will also allow us to selectively consider acquisition opportunities within the mainland UK market.
For further information:
The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter PortGuernsey
GY1 3QL
Tel: 01481 745480
Fax: 01481 745085
ING Real Estate Investment Management (UK) Limited
Helen Stott, 020 7767 5648, [email protected]
Financial Dynamics
Dido Laurimore/Laurence Jones, 020 7831 3113
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