Public Service Properties completes €10m property disposal

Public Service Properties Investments completed a large property disposal on Friday, leading it to hint at a capital return to its stockholders.

The AIM-traded company had announced on 10 March that it exchanged contracts to dispose of its three remaining properties leased to the Marseille Kliniken Group for an aggregate gross price of €10m.

At the time, PSP said the sales were conditional on the re-registration of the properties on the appropriate land registry, and after registration of charges in favour of the purchaser’s lender.

“The company is pleased to report that all of the conditions have been met and the transactions have closed,” PSP’s board said in a statement on Friday.

It promised an announcement on a further return of capital to shareholders would be made in due course.