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, Old Tiffield Road, Towcester, NN12 6PF for £3,780,000, which is slightly ahead of the most recent valuation of £3,675,000.
The property was partly funded by debt when purchased in 2015 which will be repayable, leaving net proceeds of £2,025,000 before selling costs which include a 0.75% agent’s commission, a 0.15% fee payable to the FIM Capital Limited Property Manager for coordinating and managing the disposal and standard legal fees. The net proceeds will be added to the Fund’s REIT portfolio and enhance liquidity levels.
FWHRE continues to benefit from two leases with B&M, a leading variety goods value retailer listed on the LSE with a market capitalisation value of £4.5bn.
This announcement was made on behalf of the Company by FIM Capital Limited.