LONDON (Alliance News) - Public Service Properties Investments Ltd on Thursday said it has exchanged contracts on the sale of the Huttenstrasse care home property in Germany for EUR5.4 million.
The sale was closed at a 2.5% discount to the net asset value of the property at the end of December and is part of the company's strategic review to offload its German care home portfolio.
Public Service said it is continuing to test the market appetite for its four remaining care homes in the country.
Shares in the company were trading up 0.9% at 29.25 pence on Thursday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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