Ediston Property Inv Comp PLC Disposal (1010R)
March 04 2021 - 1:00AM
UK Regulatory
TIDMEPIC
RNS Number : 1010R
Ediston Property Inv Comp PLC
04 March 2021
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 GBP26.5m, 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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END
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