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KCR Residential buys retirement apartment for £365,000
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.
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."
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."
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