ING UK Real Estate Income Trust Ltd ("IRET" / "the Company"), a Guernsey registered closed-ended investment company, today announces that it has exchanged contracts and simultaneously completed the sale of Royal London House, Douglas, Isle of Man for a total consideration of £7.1 million.
The sale to the tenant, which is in line with the June 2009 valuation, follows the positive settlement of the rent review earlier this year.
Michael Morris, Fund Manager, comments, "The sale of this non core, offshore asset, will provide the Company with greater operational flexibility and as such will also allow us to selectively consider acquisition opportunities within the mainland UK market."
Source: FD
