Property investment firm Wichford announced the disposal on Wednesday of two UK properties for a total consideration of £19 mln (EUR 27 mln). Wichford said that the properties no longer fit its investment criteria. 'The sale of these UK properties is in line with our stated strategy of re-balancing the portfolio towards index linked rentals and focussing on Continental Europe,' chairman Michael Sheehan said.
Property investment firm Wichford announced the disposal on Wednesday of two UK properties for a total consideration of £19 mln (EUR 27 mln). Wichford said that the properties no longer fit its investment criteria. 'The sale of these UK properties is in line with our stated strategy of re-balancing the portfolio towards index linked rentals and focussing on Continental Europe,' chairman Michael Sheehan said.
The Quest House building in Croydon was sold for £6 mln to a house builder. The Woodfield House property in Taunton was sold for £13 which reflected a net initial yield of 5.75%. The buyer was a south-west orientated property opportunity fund managed by Colliers Capital UK.
