The Local Shopping REIT will continue to sell off its assets despite a recent failure to unload its remaining property assets to one buyer.
The company said in an announcement to the stock exchange that it had unsuccessfully concluded discussions with an unnamed buyer to sell all its remaining assets in one transaction.
Instead the company said it would continue to sell individual assets in accordance with the change of strategy it announced in July 2013.
The company’s sales to date have realised £88.15m; a further £3.73m of assets is under offer across 35 separate transactions.
The company expects to accelerate its disposals following the expiry of most of its interest rate hedges in June 2016 and hopes to complete the disposal process by the end of 2017.
