Energiser Investments sells final unit at Surrey property development

AIM-listed investor Energiser Investments has exchanged contracts to sell the final unit at the Kingswood Park property development in Surrey for £725,000.

The sale, which is expected to complete by the end of April, means that the company will now receive the balance of its profit share.

The company's investment strategy for Kingswood was to fund a mezzanine loan made to a development company that then built 12 residential units.

Funds from the sale will be used to improve Energiser's balance sheet in preparation for the next acquisition.

Energiser is currently working on two potential investment opportunities and said that it continues to sees “significant value” in investing in property companies such as serviced apartment and self-storage businesses.

Shares in Energiser Investments were down 2.63% to 2.31p at 0804 BST.