Disposal

RNS Number : 1010R

Ediston Property Inv Comp PLC

04 March 2021

 

4 March 2021

Ediston Property Investment Company plc ('the Company')

(LEI: 213800JRL87EGX9TUI28)

Disposal of Tesco Superstore at Prestatyn Shopping Park

Ediston Property Investment Company plc (LSE: EPIC) announces that it has sold the Tesco Superstore, which forms part of Prestatyn Shopping Park, to Supermarket Income REIT. The sale price was £26.5m, which is in line with the property's valuation as at 31 December 2020 and above the December 2017 acquisition price. The sale completed on 3 March 2021.

The Company will retain the remainder of the retail park, which extends to c. 91,500 sq. ft. across 14 units. The retail park is let to 13 tenants, with M&S as an anchor, and has asset management angles to exploit.

Calum Bruce, Investment Manager, commented:

"The sale of this asset is in line with our investment strategy and provides us with the opportunity to recycle capital from lower yielding assets into properties which are more suited to our intensive style of asset management."

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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

 

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