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Axa Property down to one asset

Axa Property down to one asset

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The Board of AXA Property Trust Limited has announced that the company has entered into a binding contract for the sale of the property at Rothenberg, Germany. The contracted sales price is EUR22.02 million reflecting a discount of 1.7% below the asset’s independent valuation as at 30 September 2016.

Completion is expected at the end of January 2017. Following the receipt of funds net sales proceeds, together with surplus cash reserves, will be returned to shareholders as soon as practicable.

Following the sale of Rothenberg, the Company’s last remaining asset will be the UCI Multiplex in Curno, Italy. Further updates on the disposal of this asset will be provided in due course.

APT : Axa Property down to one asset

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