Real Estate Opportunities (REO) has posted a circular to its shareholders confirming plans to appoint parent company Treasury Holdings as its portfolio adviser.
The announcement follows the £400m acquisition of London’s 38-acre Battersea Power Station site.
The circular also announces that an Extraordinary General Meeting will be held on 29th December at which the appropriate resolutions to enable the acquisition to proceed will also be put to ordinary shareholders.
INVESCO has resigned as manager of the group’s assets but INVESCO Asset Management will continue to manage the income portfolio and provide advice to the independent directors.
REO said the Board has been considering its advisory arrangements in view of the growtn in size of its development portfolio.
The group said that, in particular, the Battersea Power Station site would require substantial development expertise.
References: EGi News 06/12/06
