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12 Feb 2019 | 07:35

Local Shopping REIT sells six properties at a discount to book value

Local Shopping REIT said it had either sold or exchanged contracts for sale on six properties for an aggregate price of £0.93m.

The sale price represented a 1.1% discount to carrying value before sales costs, the company said.

Combined sales costs were estimated at about 3.5% of the sales price, resulting in an aggregate realised loss on sale of around 4.6%.

The company said it now had about £21.2m in cash reserves.

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