Atlantic Leaf says shift to UK industrial properties will pay off
The company has ended its direct exposure to Britain’s retail sector as Brexit and general property market uncertainty continues
16 October 2019 - 08:08
UK-focused real estate company Atlantic Leaf Properties said on Tuesday that it expects its shift towards industrial properties to pay off in its year to end-February 2020, despite this resulting in short-term pressure on earnings.
The company disposed of 10 retail warehouse and industrial properties in the UK in April, effectively eliminating its direct exposure to the UK retail sector. It then spent £39.9m (R758m) buying diversified industrial properties, though the timing between these transactions did affect cash flow...
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