The Company has sold its office buildings in Edinburgh (145 Morrison Street) and Newcastle (Citygate II), for a headline price of £31.4m.
These sales are in line with the revised strategy to sell its office portfolio and to reinvest the proceeds in retail warehouses, a sector in which the Investment Manager has considerable experience as an investor, developer and asset manager.
Calum Bruce, Investment Manager, commented:
“We have now sold three of our four office properties since we announced our new strategy. We are actively looking at reinvestment opportunities in the retail warehouse sector which are suited to our intensive style of asset management.”