Elite UK REIT plans to sell a property for £1.6 million - its third divestment announced in three months - and will use net proceeds to pare debt.
The property is called St Paul’s House and is at Chippenham and is now vacant, says the REIT on Dec 20.
The sale will be at a premium of 18.5% over the valuation of £1.35 million as at June 30.
Most recently, on Nov 27, the REIT divested Hilden House at Warrington for £3,28 million, which the REIT says is a 6% premium over valuation.
Earlier, on Oct 2, the REIT sold Sidlaw House at Dundee for £1.27 million, at a premium of 41.7% over its valuation.
Elite UK REIT closed at £0.30 on Dec 19, unchanged for the day and up 5.36% year to date.
