The Company has completed the sale of its final office asset, St Philips Point, Birmingham. The headline price of the disposal was £24.5m.
The sale is in line with the Company’s revised strategy, announced in Q3 2021, to sell its office assets and to reinvest the proceeds in retail warehouses, a sector which the Company believes has good potential for both income and capital growth.
Calum Bruce, Investment Manager, commented:
“We have completed the first phase of our revised strategy, to pivot towards the retail warehouse sector. Good progress is being made in identifying suitable retail warehouse assets to acquire, which will provide the Company with an attractive level of income, as well as asset management opportunities to exploit.”