Ground Rents Income Fund (GB:GRIO) has released an update.
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Ground Rents Income Fund PLC has sold its largest asset, a freehold ground rent interest in York, for £7.9 million, aligning with its strategy to optimize investment value. The sale proceeds will be used to repay debt, improving the company’s bank Loan to Value ratio and Interest Cover Ratio. Additional asset sales are planned, with a full update expected in the year-end results.
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