(Registered in Guernsey)
(Registration number 64865)
LSE share code: STP JSE share code: STP
("Stenprop" or the "Company")
COMPLETION OF DISPOSAL OF THE BLEICHENHOF PROPERTY
5 March 2020
Further to the announcement made by the Company on 18 December 2019, Stenprop announces that the sale of the property known as Bleichenhof in Hamburg has now completed.
Paul Arenson, CEO of Stenprop, commented: "This is a significant sale for Stenprop, and another step in the transition towards becoming a 100% UK multi-let industrial business. This sale releases cash in excess of £46.7 million which is now available to be re-deployed in the acquisition of additional UK multi let industrial estates. Following completion of this sale, UK MLI estates now comprise approximately 57% of our total property portfolio".
For further information:
Stenprop Limited 44(0)20 3918 6600
Numis Securities Limited (Financial Adviser) 44(0)20 7260 1000
Tavistock (PR Adviser) 44(0)20 7920 3150
Java Capital Trustees and Sponsors Proprietary Limited 27 (0)11 722 3050
Stenprop is a Guernsey-registered UK REIT. The objective of the Company is to deliver sustainable growing income to its investors. Stenprop's investment policy is to invest in a diversified portfolio of UK multi-let industrial (MLI) properties with the strategic goal of becoming the leading MLI business in the UK. For further information, go to www.stenprop.com.