Irish Residential Properties REIT (I-RES) has sold 62 units and plans to dispose of at least another 50 in 2025 as the board explores additional measures to generate income and cut costs as part of the trust’s strategic review.
In a stock exchange notice today (22 November), the board said they have now completed the disposal of 20 assets in a bulk sale, in line with the book value as of 30 June, while an additional 17 units were sold to individual purchasers at sales premiums of around 25%. The move comes as part of a previously announced 315-unit programme, with CEO of I-RES Eddie Byrne saying the vehicle will continue to consider "all opportunities to enhance shareholder value". "The execution of our recycling programme is ahead of our expected timeframe and will further strengthen our financial position,...
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