KCR Residential buys retirement apartment for £365,000
KCR Residential Reit
9.00p
16:40 04/10/24
KCR Residential REIT said its wholly-owned subsidiary, K&C (Osprey) Limited, has bought another apartment within one of its freehold retirement residential developments for £0.365m excluding costs.
FTSE AIM All-Share
738.36
16:54 04/10/24
Real Estate Investment Trusts
2,335.75
17:14 04/10/24
The property was acquired on a 67 year lease, the AIM-listed company said in a statement.
"In line with the previous leasehold acquisitions, the apartment will be refurbished and re-presented to the market such that Osprey retains the freehold interest," KCR said.
Dominic White, Chief Executive of KCR, said: "KCR continues to implement its asset management strategy in the freehold Osprey retirement property portfolio to improve yield generation and increase shareholder value in the short to medium term."