StockMarketWire.com - Palace Capital said it has exchanged contracts to sell 50 residential units for £18.2m, reflecting 97% of their book value, to the London borough of Barnet.

The units were part of 65 residential units acquired in the RT Warren portfolio in October 2017, of which three were sold in February for £1.3m.

The 50 units currently produced a gross income of £0.6m per annum.

Funds from the sales would add to cash reserves ultimately destined towards new acquisitions, Palace Capital said.




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