Progress with Sales Strategy

RNS Number : 0900L

AXA Property Trust Ld

06 August 2013

 



To:                    Company Announcements

Date:                6 August 2013

Company:         AXA Property Trust Limited

Subject:            Progress with Sales Strategy  

The Board is pleased to announce progress with the implementation of the sales strategy to deleverage the Company and continue with the orderly wind down of the portfolio approved by Shareholders at the EGM held in April 2013.

The sale of the Dresden asset in Germany has been completed at a price of €2.1m which shows a 7% improvement on the last valuation. The purchaser is the current tenant of the property Otto Gruber GmbH. This is a 2,700sqm stand-alone unit used for the sale and storage of car parts and is located in the Mickten District of the city.

The asset at Braunschweigerstrasse in Berlin has been notarised at a disposal price of €1.625m and is expected to complete later this month whilst the property in Antwerp, Belgium is formally under offer with completion expected in late September.

Company website:

http://www.axapropertytrust.com

All Enquiries:

Investment Manager 

AXA Investment Managers UK Limited

Broker Services

7 Newgate Street

London EC1A 7NX

Tel: [phone]
Email: [e-mail]

Broker

Oriel Securities Limited

Neil Winward

Tel: [phone]

Company Secretary

Northern Trust International Fund Administration Services (Guernsey) Limited

Trafalgar Court

Les Banques

St Peter Port

GY1 3QL

Renee McIver

Tel: [phone]

Fax: [phone]

 

END

 

 

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