Ediston Prop Inv - Completion of final office asset disposal
29/03/2022 07:00
For best results when printing this announcement, please click on link below: http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220329:nRSc2903Ga&default-theme=true RNS Number : 2903G Ediston Property Inv Comp PLC 29 March 2022 29 March 2022 Ediston Property Investment Company plc (the 'Company') (LEI: 213800JRL87EGX9TUI28) Completion of final office asset disposal Further to its announcement of 22 February, the Board of the Ediston Property Investment Company plc (LSE: EPIC) confirms that it has completed the sale of its final office asset, St Philips Point, Birmingham. The headline price of the disposal was £24,500,000, which, as previously advised, is 3.9% below the 31 December 2021 valuation. The impact of the sale will be accounted for as part of the overall movement in the portfolio value in the next NAV announcement, for the quarter ending 31 March 2022, to be made in April 2022. The sale is in line with the Company's revised strategy, announced in Q3 2021, to sell its office assets and to reinvest the proceeds in retail warehouses, a sector which the Company believes has good potential for both income and capital growth. Calum Bruce, Investment Manager, commented: "We have completed the first phase of our revised strategy, to pivot towards the retail warehouse sector. Good progress is being made in identifying suitable retail warehouse assets to acquire, which will provide the Company with an attractive level of income, as well as asset management opportunities to exploit." 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 This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com (mailto:rns@lseg.com) or visit www.rns.com (http://www.rns.com/) . RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy) . END DISDZGZFKRFGZZM