abrdn Property Income sells two assets for £16.5m as Custodian shareholders vote in favour of merger

Sale at 0.3% discount

abrdn Property Income (API) trust has agreed the sale of two of its assets for a total price of £16.5m – a 0.3% discount to the December 2023 valuation.

In a stock exchange filing today (20 March), API said contracts have been exchanged for the sale of 15 Basinghall Street in London, which is expected to be completed on 22 March. abrdn Property Income board calls on shareholders to back Custodian merger The trust sold the office building for £9.8m, a net initial yield of 8.2% but a 7.1% discount to the September 2023 valuation. Additionally, the sale of industrial estate Opus 9, Warrington completed at the price of £6.7m, a net initial yield of 5.9% and a 5.5% premium to the September 2023 valuation. Mark Blyth, deputy fund mana...