RNS Number : 0676Q
ING UK Real Estate Income Trust Ltd
03 April 2009
ING UK Real Estate Income Trust Limited
3 April 2009
ING UK Real Estate Income Trust Limited continues with its asset disposal programme
ING UK Real Estate Income Trust Limited ("IRET" / "the Company"), a Guernsey registered closed-ended investment company, today announces that it has exchanged contracts for the sale of three assets for a total consideration of GBP 11.1 million. Completion on all three assets is due in April.
The three properties comprise a 24,900 sq ft retail property in Alexandra Parade, Glasgow, sold for GBP 2.5 million, a 12,600 sq ft office building near Southwark Bridge, London, sold for GBP 4.6 million and a 19,000 sq ft office in Guilford, sold for GBP 4.0 million.
The sales are part of an ongoing disposal programme by the Company and reflect a 9% discount to their December 2008 valuation. The proceeds will be used to reduce the net debt position.
For further information:
The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
St Peter Port
Tel: 01481 745439
Fax: 01481 745085
ING Real Estate Investment Management (UK) Limited
Helen Stott, 020 7767 5648, email@example.com
Dido Laurimore/Laurence Jones, 020 7831 3113
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