LXB Retail Properties sells Scottish land for £3.35m

AIM-listed investor LXB Retail Properties has completed the sale of most of its remaining land interests in Ayr, Scotland for £3.35m.

The proceeds, after accounting for expenditure, disposal fees and contracted costs, will have a “minimal impact” on the company’s net asset value.

Property firm Manse, which is owned by Palmer Capital Development Fund, was the purchaser.

Tim Walton, chief executive of LXB Adviser, said: "With the exception of a small piece of land, this concludes the group's activities in Ayr and marks another step towards disposing of the group's remaining assets in accordance with the shareholders' vote in February 2016."

Shares in LXB Retail Properties were down 0.31% to 39.75p at 0950 GMT.