UK Commercial Property sells retail assets for £51m
Source - SMW
UK Commercial Property Trust has completed the sale of three retail centres in Shrewsbury to Shropshire Council for around £51m, representing a small premium to book value.
The three assets comprise the Charles Darwin, Pride Hill and Riverside shopping centres, located in Shrewsbury's town centre.
"The sale of these three centres is in line with our previously stated strategy of reducing our portfolio's weighting towards retail," Will Fulton, fund manager at adviser Standard Life Investments, said.
"Furthermore the sale provides us with additional financial resources, which we intend to recycle into other investment opportunities that fit with the company's investment strategy."
At 1:11pm: (LON:UKCM) UK Commercial Property Trust share price was -0.15p at 89.85p