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Stenprop on its way to being a fully focused multi-let Reit

Stenprop on its way to being a fully focused multi-let Reit
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Investegate |Stenprop Limited Announcements | Stenprop Limited: Disposal of Berlin Shopping Centre for EUR30.8M


DISPOSAL OF BERLIN SHOPPING CENTRE FOR €30.8 MILLION
 Hermann Quartier sale will conclude €95 million of non-core disposals in the financial year to date at an average of 18% above March valuation, providing further capital to recycle into multi-let industrial
Stenprop, the UK multi-let industrial ( MLI ) property company, announces that it has exchanged contracts on the sale of its freehold interest in the Hermann Quartier shopping centre in Berlin, Germany (the disposal ) to Munich based firm ILG Capital GmbH, acting on behalf of the regulated special property fund ILG Einkaufen D managed by IntReal International Real Estate Kapitalverwaltungsgesellschaft mbH, for

30.8 million. The disposal price is in line with the 30 September book value^ and reflects a 19% premium to the 31 March 2020 valuation.

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