Victoria Property Holdings, part of real estate investment and development group Martin Property Group, has submitted a non-binding indicative offer for Ground Rents Income fund (GRIO).
In a stock exchange notice today (8 January), the firm offered an all-cash bid of 34p per GRIO share, valuing the trust at £32.5m, representing a 48.5% premium to the fund's closing share price of 22.9p on Tuesday (7 January). Ground Rents Income postpones accounts following leasehold reform This follows three previous bids in November and December 2024, which Victoria Property claimed were rejected, as GRIO's board "declined to engage" with the firm on each occasion. It said that all previous offers were at premiums to GRIO's share price at the time, and argued that they all would...
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