06 Aug - 2 min read

Completion of the disposal of Hermann Quartier

Completion of the disposal of Hermann Quartier

STENPROP LIMITED
(Registered in Guernsey)
(Registration number 64865)
LSE share code: STP  JSE share code: STP
ISIN: GG00BFWMR296
(“Stenprop” or the “Company”)


6 August 2021


STENPROP PORTFOLIO REACHES 83% MLI ON COMPLETION OF €30.8 MILLION DISPOSAL OF BERLIN SHOPPING CENTRE

Further to the announcement made by the Company on 29 December 2020, Stenprop announces that the sale
of its freehold interest in the Hermann Quartier shopping centre in Berlin, Germany has now completed. The
transaction takes Stenprop’s portfolio to 83%* MLI, based on March 2021 valuations.

James Wakelin, Head of Debt and Special Projects, commented: “This completes the sale of our €95 million Berlin
shopping centre portfolio, which we achieved at an average premium of 18% above March 2020 book value. With
further disposals underway, we remain on track to complete our transition to being a 100% UK MLI business by
March 2022.”

*Inclusive of the retained urban logistics assets which complement the wider MLI strategy

This announcement is voluntary and for information purposes only.

For further information:
Stenprop Limited                                                                       +44(0)20 3918 6600
Paul Arenson (paul.arenson@stenprop.com)
Julian Carey (julian.carey@stenprop.com)
James Beaumont (james.beaumont@stenprop.com)

Numis Securities Limited (Financial Adviser)                                           +44(0)20 7260 1000
Hugh Jonathan
Vicki Paine

FTI Consulting (PR Adviser)                                                            +44(0)20 3727 1000
Richard Sunderland
Richard Gotla
Neel Bose
Stenprop@fticonsulting.com

Java Capital                                                                           +27 (0)11 722 3050
(JSE Sponsor)

About Stenprop:
Stenprop is a UK REIT listed on the LSE and the JSE. The objective of the Company is to deliver sustainable growing
income to its investors. Stenprop's investment policy is to invest in a diversified portfolio of UK multi-let industrial
(MLI) properties with the strategic goal of becoming the leading MLI business in the UK. For further information,
go to www.stenprop.com.

Date: 06-08-2021 08:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

More from Stenprop Limited


Join Listcorp to create a personalised news feed, follow your favourite companies, save useful news, and more.

By joining Listcorp you agree to our Terms & Conditions and Privacy Policy

Information on this Website is provided for general information purposes only and is not a substitute for professional advice. ASX Information (including company announcements and prices) is delayed by at least 20 minutes. JSE Information (including company announcements and prices) is delayed by at least 15 minutes. Reliance on the information you access on or from this Website is solely at your own risk. We make no representation or warranty in relation to the future performance of the companies that appear on this Website. Investment in securities involves risk and you should obtain independent professional legal, financial, investment or company advice before acting on any of the information you access on this Website. Using, browsing or otherwise accessing this Website is subject to our Terms and Conditions and our Privacy Policy.

© 2021 Listcorp. ABN 60 166 140 307

Never miss news from Stenprop Limited (JSE:STP) when you join Listcorp.