Local Shopping REIT Sells Six Properties Since September

LONDON (Alliance News) - Local Shopping REIT PLC said Tuesday that since the end of September it ...

Alliance News 12 February, 2019 | 2:40PM
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LONDON (Alliance News) - Local Shopping REIT PLC said Tuesday that since the end of September it sold or exchanged contracts for six more properties for a total value of GBP930,000.

Of these, three properties were sold through private treaty transactions which completed or exchanged for an aggregate sale price of GBP580,000, representing a 5.6% discount to carrying value before sales costs.

The other three properties exchanged in auctions during February. The aggregate sale price of these was GBP350,000, representing a 7.2% premium to carrying value before sales costs.

Excluding properties on which sale contracts have been exchanged, the remaining property portfolio comprises 12 properties. Of these, six properties are under offer for sale and the other six properties will continue to be marketed.

Local Shopping REIT shares were trading down 0.7% at 26.80 pence each on Tuesday.

By Elena Cherubini; elenacherubini@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
The Local Shopping REIT Ord 28.70 GBX 0.35 -
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