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API Abrdn Property Income Trust Limited

51.40
-0.40 (-0.77%)
20 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Abrdn Property Income Trust Limited LSE:API London Ordinary Share GB0033875286 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.40 -0.77% 51.40 51.40 51.60 52.20 51.40 52.00 950,851 16:25:37
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Real Estate Agents & Mgrs 31.11M -51.05M -0.1339 -3.84 195.95M

abrdn Property Income Trust Limited - Sale of Assets

17/04/2024 7:30am

UK Regulatory


Abrdn Property Income (LSE:API)
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abrdn Property Income Trust Limited - Sale of Assets

PR Newswire

 

abrdn Property Income Trust Limited

(an authorised closed-ended investment company incorporated in Guernsey with registration number 41352)

 

LEI Number: 549300HHFBWZRKC7RW84

(The "Company" or "API")

 

17 April 2024

 

Further asset disposals

 

abrdn Property Income Trust ("API") has completed on the sale of two assets for a combined price of £13.2m, reflecting a 1.5% premium to the December 2023 valuation.

Unit 4, Monkton Business Park in Hebburn is a single-let industrial unit let to Hitachi Construction Machinery Limited.  The sale follows completion of the asset management business plan with a regear of the lease completed last year.  The property was sold for £5.3m which is a 6% premium to the December 2023 valuation.

The sale of King's Business Park, Bristol completed for £7.9m reflecting a 1.25% discount to the December 2023 valuation.  The multi-let industrial estate has an average unexpired term of just under two years, and the sale price reflects a net initial yield of 5.5%.

Mark Blyth, Deputy Fund Manager of API commented: "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."

 

All Enquiries:

Jason Baggaley - Real Estate Fund Manager, abrdn

Tel:  07801 039463 or jason.baggaley@abrdn.com

 

Mark Blyth - Real Estate Deputy Fund Manager, abrdn

Tel: 07703 695490 or mark.blyth@abrdn.com

 

 




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