Balanced Commercial Property Trust Ltd - BCPT Agrees Sale of Portfolio's Largest Office Asset
To: RNS
Date:
LEI Number: 213800A2B1H4ULF3K397
From: Balanced Comme
rcial
Sale Activity
BCPT agrees sale of portfolio’s largest office asset
The property, which BCPT has owned since 2015, is the largest office holding within the Company’s portfolio by capital value, is located in the
The sale will reduce BCPT’s portfolio exposure to offices from
24.4
%[1]
to 22.2% by capital value (based on the
Since the beginning of the year, BCPT has announced the disposal of four office holdings, raising capital proceeds totaling £68.865m delivered at an aggregate discount of 2.6% to the preceding independent valuation[2]. Three of these sales are regional out of town offices, which is a structurally challenged sector of the market.
Throughout 2024, we will continue to re-balance our portfolio towards targeted growth sectors with resilient occupier markets, primarily select sub-markets within industrial & logistics and operational alternatives. We expect to announce further disposal activity in the short term as we continue to strategically reduce our exposure to the office sector.”
All enquiries to:
Tel: 0207 499 2244
Tel: 0203 100 0265
Barclays Bank PLC
0207 623 2323
BarclaysInvestmentCompanies@barclays.com
[1]
Following the sale of
[2]
Discounts are calculated against the last independent valuation prior to contracting the sale. Sales in