LONDON (dpa-AFX) - UK Commercial Property REIT Ltd. (UKCM.L), a real estate investment trust, on Thursday, announced that it has sold its Webley Logics Asset in London measuring 186,455 sq ft for 74 million pounds to Covent Garden IP Limited, a registered charity.
The deal reflects a net yield of 3.49% and is in line with the March 31, 2023 valuation.
The proceedings will be used to enhance earnings by paying down a substantial amount of floating rate Rolling Credit Facility of 93 million pounds costing 6.3 percent p.a.
Currently, UKCM shares are trading at 51.62 pence, up 1.21% or 0.62 pence on the London Stock Exchange.
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