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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."