Balfour Beatty offloads student accommodation building

(Sharecast News) - Infrastructure group Balfour Beatty has sold Foundry Courtyard, a 536-bed student accommodation building in Glasgow to an undisclosed buyer.

After allowing for debt repayment and normal adjusting items, net disposal proceeds to Balfour Beatty are £26m, with the sale generating a profit on disposal of £24m, the company said on Friday.

Gains on investment disposals for the full year continue to be expected in the range of £30m - £40m it added.

Reporting by Frank Prenesti for Sharecast.com