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4 Mar 2021 07:00
4 March 2021
Ediston Property Investment Company plc ('the Company')
(LEI: 213800JRL87EGX9TUI28)
Disposal of Tesco Superstore at Prestatyn Shopping Park
Ediston Property Investment Company plc (LSE: EPIC) announces that it has sold the Tesco Superstore, which forms part of Prestatyn Shopping Park, to Supermarket Income REIT. The sale price was £26.5m, which is in line with the property's valuation as at 31 December 2020 and above the December 2017 acquisition price. The sale completed on 3 March 2021.
The Company will retain the remainder of the retail park, which extends to c. 91,500 sq. ft. across 14 units. The retail park is let to 13 tenants, with M&S as an anchor, and has asset management angles to exploit.
Calum Bruce, Investment Manager, commented:
"The sale of this asset is in line with our investment strategy and provides us with the opportunity to recycle capital from lower yielding assets into properties which are more suited to our intensive style of asset management."
End
Enquiries | ||
Will Barnett | - Investec Bank plc | 0207 597 5873 |
Calum Bruce | - Ediston Properties Limited | 0131 225 5599 |
Ruth Wright | - JTC | 0203 893 1011 |
Ben Robinson | - Kaso Legg Communications | 0203 995 6672 |
Stephanie Ross | - Kaso Legg Communications | 0203 995 6676 |
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