Stenprop: Completion of Disposal of Bleichenhof Property
Further to the announcement made by the Company on 18 December 2019, Stenprop announces that the sale of the property known as Bleichenhof in Hamburg has now completed.
Paul Arenson, CEO of Stenprop, commented:
“This is a significant sale for Stenprop, and another step in the transition towards becoming a 100% UK multi-let industrial business. This sale releases cash in excess of £46.7 million which is now available to be re-deployed in the acquisition of additional UK multi let industrial estates. Following completion of this sale, UK MLI estates now comprise approximately 57% of our total property portfolio”.