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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.

Germany , Johannesburg , Gauteng , South-africa , United-kingdom , Guernsey , Munich , Bayern , Berlin , London , City-of , Hermann-quartier