Last checked at 28 May 2021 07:00
BMO Commercial Property Trust Ltd - Property SaleBMO Commercial Property Trust Ltd - Property Sale
PR Newswire
London, May 27
To RNSDate 28 May 2021LEI Number 213800A2B1H4ULF3K397 From BMO Commercial Property Trust Limited
Property Sale
BMO Commercial Property Trust Limited (LSE: BCPT) is pleased to announce the disposal of a solus retail warehouse located in East Kilbride, Scotland.
The Company has sold the retail warehouse for a total consideration of £19million, reflecting an increase of 7.2% over the last external valuation of 31 March 2021. The property is let to B&Q Limited for one of its large format stores on a lease due to expire in November 2029.
This sale is entirely consistent with the strategy of adopting a higher level of activity within the portfolio as the Company moves to recycle capital and adjust sector weightings. As previously indicated, priority will be given to using sales proceeds to buy-back shares in the Company if the high level of discount persists and if the Board believes that this course of action is in the best interests of all shareholders. Accordingly, the Board have resolved to commence a share buy-back programme.All enquiries to:Richard KirbyBMO REP Asset Management plcTel: 0207 499 2244Graeme CatonWinterflood Securities LimitedTel: 0203 100 0268