BMO Commercial Property
Date 28 May 2021
LEI Number 213800A2B1H4ULF3K397
From BMO Commercial Property Trust Limited
BMO Commercial Property Trust Limited (LSE: BCPT) is pleased to announce the disposal of a solus retail warehouse located in East Kilbride, Scotland.
The Company has sold the retail warehouse for a total consideration of £19million, reflecting an increase of 7.2% over the last external valuation of 31 March 2021. The property is let to B&Q Limited for one of its large format stores on a lease due to expire in November 2029.
This sale is entirely consistent with the strategy of adopting a higher level of activity within the portfolio as the Company moves to recycle capital and adjust sector weightings. As previously indicated, priority will be given to using sales proceeds to buy-back shares in the Company if the high level of discount persists and if the Board believes that this course of action is in the best interests of all shareholders. Accordingly, the Board have resolved to commence a share buy-back programme.
All enquiries to:
BMO REP Asset Management plc
Tel: 0207 499 2244
Winterflood Securities Limited
Tel: 0203 100 0268