Disposal

RNS Number : 1706X

ING UK Real Estate Income Trust Ltd

10 August 2009

 



ING UK Real Estate Income Trust Limited (IRET)

10 August 2009

ING UK Real Estate Income Trust makes asset disposal on the Isle of Man

ING UK Real Estate Income Trust Ltd ('IRET' / 'the Company'), a Guernsey registered closed-ended investment company, today announces that it has exchanged contracts and simultaneously completed the sale of Royal London House, Douglas, Isle of Man for a total consideration of GBP 7.1 million. 

The sale to the tenant, which is in line with the June 2009 valuation, follows the positive settlement of the rent review earlier this year.

Michael Morris, Fund Manager, comments:-

The sale of this non core, offshore asset, will provide the Company with greater operational flexibility and as such will also allow us to selectively consider acquisition opportunities within the mainland UK market.

For further information:

The Company Secretary

Northern Trust International Fund Administration Services (Guernsey) Limited

Trafalgar Court

Les Banques

St Peter Port
Guernsey

GY1 3QL

Tel: [phone]

Fax: [phone]

ING Real Estate Investment Management (UK) Limited

Helen Stott, 020 7767 5648, [e-mail]

Financial Dynamics

Dido Laurimore/Laurence Jones, 020 7831 3113

 

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