Sale of Property

RNS Number : 3806T

Alpha Pyrenees Trust Limited

17 July 2015

 



17 JULY 2015

ALPHA PYRENEES TRUST LIMITED

("ALPHA PYRENEES" OR THE "TRUST")

ALPHA PYRENEES SELLS CÓRDOBA RETAIL PARK INVESTMENT IN SOUTHERN SPAIN

Alpha Pyrenees has sold the Connecta Retail Park investment in Córdoba, one of the principal cities in the Andalucia region, for €15.3 million which compares to its 31 December 2014 valuation (€15.4 million). The property totals approximately 16,880 square metres and is located on the Avenida de Cadiz, the main access route from the A4 motorway to the city centre. Tenants on the Connecta Retail Park include MediaMarkt, Sprinter, Dia, Norauto, McDonalds and VisionLab. The purchaser is a private investment company.

The sale forms part of the orderly realisation process supported by the Trust's lender, Barclays Bank PLC ("Barclays"), and the net proceeds from this sale will be used to reduce the Trust's borrowings with Barclays.

The Trust will provide further updates in due course. 

For further information:

Dick Kingston, Chairman, Alpha Pyrenees Trust Limited                           01481 231100

Paul Cable, Fund Manager, Alpha Real Capital LLP                                  020 7391 4700

For more information on the Trust, please visit www.alphapyreneestrust.com.

 

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