Property investor sells in Doncaster, Crosby and Kirkby
St. Modwen has completed the sale of three retail assets in Doncaster, Crosby and Kirkby for a combined sum of £34m, representing just over half of the company’s remaining non-core retail portfolio.
The assets were sold via three separate transactions. These disposals follow the sale of £177m of non-core retail assets during 2018. St. Modwen’s residual non-core retail assets now account for only 2% of its portfolio, down from 16% at the start of 2018.
Mark Allan, CEO of St. Modwen, commented: “Continuing our targeted approach to capital recycling, proceeds from these latest non-core disposals will be reinvested into our substantial industrial and logistics pipeline, which could deliver over 15m sq ft of new space over time.”
