TAP, the listed high-income UK commercial property investment company, has announced the disposal of six of its investment properties for a total of £10.7 mln (EUR 12.4 mln).
TAP, the listed high-income UK commercial property investment company, has announced the disposal of six of its investment properties for a total of £10.7 mln (EUR 12.4 mln).
The sales were undertaken as part of the normal course of business at an average of 8.5% below the 31 March 2009 valuation and reflected an aggregate net initial yield of 9.0%. The company said the proceeds would be used to repay debt across its two banking facilities. The disposals comprised two industrial properties, three retail warehouses and one retail complex:
