Phoenix Spree Deutschland Slashes Management Fees

Phoenix Spree Deutschland Ltd (GB:PSDL) has released an update.

Phoenix Spree Deutschland Ltd. has announced a significant reduction in management fees through a New Property Advisory and Investor Relations Agreement with QSix Residential Limited, slashing the ongoing fee cap from €5.0m to €4.3m, marking a permanent 14% reduction from the previous year and 40% from 2022. The amended terms, which eliminate the previous time limitation, are designed to better align the interests of the Property Advisor and the Company. Additionally, QSix has committed to investing post-tax proceeds from future disposal fees back into PSD shares.

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