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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
-
Zoopla: housing market recovery continuing amid brighter 2024 outlook
The Zoopla House Price Index has found sellers are still accepting five-figure discounts on their properties. But house price inflation is improving.
By Henry Sandercock Published
-
Revealed: the best funds to buy before the end of the tax year
Looking to add more investments to your portfolio but not sure where to start? We reveal the best funds to buy now as the end of the tax year edges closer.
By Katie Williams Published