F&C Reit has sold off seven properties for a total of around £12m. The units were more than 20,000 ...
F&C Reit has sold off seven properties for a total of around £12m. The units were more than 20,000 square feet of office space across the UK, from the company's overall £7.4bn global property portfolio. The move follows F&C Reit's Devonshire UK Opportunities fund launch in May. MD Kevin McGrath says the sales yielded up to 2007 levels and claims it shows property price estimates underestimate UK demand. "These sales have proved that the market for retail investment is much stronger than the market, the Banks and valuers currently perceive it to be," he adds.
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