Industrial Multi Property Valuation Up But Brexit Creates Uncertainty

LONDON (Alliance News) - Industrial Multi Property Trust PLC on Monday said its portfolio has been valued independently at GBP85.1 million.

The valuation, by Cushman & Wakefield, is up from GBP82.1 million at the end of March.

Industrial Multi Property noted a comment in the valuation report on the potential impact on the portfolio of the UK's decision to leave the European Union.

"We are now in a period of uncertainty in relation to many factors that impact the property investment and letting markets. Since the referendum date it has not been possible to gauge the effect of this decision by reference to transactions in the market place," the report said.

"The probability of our opinion of value exactly coinciding with the price achieved, were there to be a sale, has reduced. We would, therefore, recommend that the valuation is kept under regular review and that specific market advice is obtained should you wish to effect a disposal," Cushman & Wakefield advised Industrial Multi Property.

Shares in the trust were untraded Monday, having last traded at 130.25 pence.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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