Slough Estates has sold its residential/leisure complex Quail West in Naples, Florida, to resort and golf course developer Ginn Developments for $57.5m (£29.6m).
The industrial and business park operator said the sale was contingent on the resolution of a conservation easement which is expected to be resolved early next year.
Slough has been selling its non-core interests following a strategic review last year.
Chief executive Ian Coull said: “The improved market for high-end leisure developments in the US has enabled us to achieve a good price for Quail West.
“Also, the sale demonstrates that we have achieved better prices for our non-core assets by taking time to explore each selling opportunity.”
References: EGi News 02/12/04
