Raglan Properties has made a 25% profit on the sale of four properties it acquired at the beginning of the month. It said the total consideration of £1.25m represented an initial yield of 8.15%.
The properties are a bingo hall in Morecambe, Lancashire; a building site in Spalding, Lincolnshire; a restaurant in Brentwood, Essex and two shops in Chester-le-Street, Durham.
The company will continue to rationalise its portfolio where it can show a good profit.
- Financial Times 24/10/96 page 22
