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KCR Residential Sells Cygnet Subsidiary To Inland Homes

Wed, 12th Dec 2018 11:03

LONDON (Alliance News) - KCR Residential REIT PLC said on Wednesday it has sold its subsidiary KCR (Cygnet) Ltd for GBP1.1 million in cash.

Cygnet currently owns two long leases on supermarket sites in south-east England, and the acquisition includes the associated debt facility.

The disposal is in line with KCR's investment strategy to focus on residential housing. KCR first acquired Cygnet from Inland in June.

Shares in KCR Residential were untraded on Wednesday, last quoted at 55.60 pence, while Inland Homes shares were up 2.1% at 48.28p.

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