First World Hybrid Real Estate Plc (“FWHRE” or the “Company” or “the Fund”)
The Board of First World Hybrid Real Estate Plc is pleased to announce the sale of the property known as B&M Retail Warehouse, Newcastle Road, Leek, ST13 SQJ for £4,300,000
The property was partly funded by debt when purchased in 2017 which will be repayable, leaving anticipated net proceeds of circa £2.2m. These will be used to pay down the Fund’s Revolving Credit Facility with the surplus being added to the Fund’s REIT portfolio. The sale will reduce the Fund’s debt and enhance liquidity levels.
FWHRE continues to benefit from three leases with B&M, a leading variety goods value retailer listed on the LSE with a market capitalisation value in excess of £5bn.
This announcement was made on behalf of the Company by FIM Capital Limited.