HBRN.L Share News (HBRN)

Hibernia REIT PLC - Dublin-based real estate investment trust - Exchanges contracts for sale of 'The Forum' property to an unnamed company controlled by Spear Street Capital for EUR30.8 million. This is in line with its carrying valuation as of last September. Expects transaction to complete in the second quarter. The Forum comprises two floors of 47,000 square feet of office space in Dublin.

"Following the disposal of Dockland Central late last year, the sale of the Forum will enable us to recycle further capital into the delivery of Harcourt Square and Clanwilliam, consistent with our strategic priorities of asset clustering and ESG excellence, as well as giving us capacity for future acquisition opportunities," says Chief Investment Officer Edwina Governey.

Current stock price: 101.20 pence, up 1.2% on Thursday

12-month change: up 1.5%

By Elizabeth Winter; elizabethwinter@alliancenews.com

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