IN BRIEF: abrdn Property completes sale of assets for small premium

abrdn Property Income Trust Ltd - real estate trust - Completes sale of two assets for a combined ...

Alliance News 17 April, 2024 | 9:45AM
Email Form Facebook Twitter LinkedIn RSS

abrdn Property Income Trust Ltd - real estate trust - Completes sale of two assets for a combined price of GBP13.2 million, which is a 1.5% premium to the December valuation. One is the Monkton Business Park in Hebburn, a single-let industrial unit let to Hitachi Construction Machinery Ltd, for GBP5.3 million, or a 6% premium. The other one is King's Business Park in Bristol for GBP7.9 million, a 1.25% discount to the December valuation. Deputy Fund Manager Mark Blyth says: "Following on from the two sales last month, we're pleased to have completed these further disposals at Hebburn and Bristol at a premium to the December valuation. As with the previous sales, the proceeds will be used to pay down the company's rolling credit facility."

Current stock price: 50.20 pence per share, 2.7% higher on Wednesday morning in London

12-month change: down 12%

By Tom Budszus, Alliance News slot editor

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
abrdn Property Income Trust Ord 52.10 GBX -0.57 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures