Caledonian Trust sells Edinburgh house to boost working capital

Caledonian Trust confirmed on Thursday that the sale of 43B Brunstane Road South in Edinburgh completed on 27 April.

The AIM-traded firm said the property, a semi-detached house, had been marketed for sale by Knight Frank from mid-November last year, and had generated “significant interest” with three offers being received in December.

It said the property was sold for gross proceeds of £0.51m against its Home Report Value of £0.46m.

“The net proceeds from the sale of the property provides the company with additional working capital, and in particular will enable the company to re-invest further monies in certain of Caledonian Trust's development activities,” the board said in its statement.