Ascencio has announced the sale of its shopping complex in Jemappes, Belgium. The property was sold to a private investor for a net amount of €8.55 million, which is consistent with the fair value determined by the independent valuer.
The site covers an area of c. 10,000m2, and its main tenants are Sportsdirect.com, Dreamland, and Auto 5. The sale is part of Ascencio's ongoing revaluation of its property portfolio.
The proceeds from the sale will enable Ascencio to increase the cash available on its credit lines, manage its debt ratio, and consider investment opportunities. However, the sale is estimated to have a negative impact of €0.01 per share on an annual basis on EPRA Earnings and -0.7% on the Company's EPRA LTV.
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