Schroder Real Estate Investment Trust disposes interest in Minerva House

Schroder Real Estate Investment Trust completed Monday the disposal of its 50 per cent stake in Minerva House, London for 30m pounds.

Schroder Real Estate Investment Trust completed Monday the disposal of its 50 per cent stake in Minerva House, London for 30m pounds.

The company has exchanged unconditional contracts following the announcement of the decision on December 10th.

The price reflects a net isreinitial yield of 5.37% compared to a value of £29.25m at September 30th.

The property investment company now has £52.7m in cash and a net loan-to-value ratio following the completion of the disposal, based on the portfolio valuation of 30% as at September 30th.

The firm, which has a market capitalisation of £137.03m, stated that it intends to use the funds to reduce debt, which will be explained in further detail at a later date.

Minerva House is an office and residential building covering 103,686 sq. ft., on the south bank of the River Thames adjacent to Southwark Cathedral.

RD

Recommended

The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into
2 Mar 2023
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
27 Feb 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023

Most Popular

Bank of England hikes key interest rate to 4.25%
UK Economy

Bank of England hikes key interest rate to 4.25%

The Bank of England raised rates by 0.25% following a surprise jump in inflation.
23 Mar 2023
Will energy prices go down in 2023?
Personal finance

Will energy prices go down in 2023?

Ofgem’s price cap is now predicted to fall below £2,000, based on average typical use, from July, for the first time since 2022. We have all the detai…
21 Mar 2023
When will interest rates go up?
UK Economy

When will interest rates go up?

The Bank of England raised rates to 4.25%, its 11th consecutive increase. Does the base rate have further to go?
23 Mar 2023