Alpha Real Trust Limited Sale of Cambourne (0253V)
December 08 2021 - 10:44AM
UK Regulatory
TIDMARTL
RNS Number : 0253V
Alpha Real Trust Limited
08 December 2021
LEI: 213800BMY95CP6CYXK69
8 December 2021
ALPHA REAL TRUST LIMITED ("ALPHA REAL TRUST", "ART" OR THE
"COMPANY")
SALE OF CAMBOURNE BUSINESS PARK, PHASE 1000
Alpha Real Trust announces that the sale of the special purpose
vehicle which holds Cambourne Business Park, Phase 1000, Cambourne;
8 miles west of Cambridge city centre, has completed.
The sale has been finalised by Scholar Property Holdings
Limited, the joint venture in which the Company held a 10% equity
interest. The sale was for a net cash consideration to Alpha Real
Trust of GBP2.1 million. The sale has realised a return above the
Company's latest book value for the investment.
Alpha Real Trust originally acquired the 10% interest in Scholar
Property Holdings Limited, a joint venture partnership with a major
overseas investor which are clients of Kout Capital. Scholar
Property Holdings Limited owned Phase 1000 in a joint venture
subsidiary. Alpha Real Capital, the Company's Investment Manager
has actively managed the asset since acquisition in 2011 including
achieving lease restructuring, new lettings and refurbishing
buildings in the business park. The investment has achieved an
equity IRR of in excess of 14.4% p.a. for Alpha Real Trust.
Proceeds from the sale are to be deployed in line with the
Company's investment strategy.
For further information please contact:
Alpha Real Trust Limited
William Simpson , Chairman, Alpha Real Trust +44 (0) 1481 742 742
Brad Bauman, Joint Fund Manager, Alpha Real Trust +44 (0) 20 7391 4700
Panmure Gordon, Broker to the Company
Atholl Tweedie +44 (0) 20 7886 2500
Further information on the Company can be found on the Company's
website: www.alpharealtrustlimited.com .
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