Safestay (AIM:SSTY), the AIM-listed owner and operator of contemporary hostels across Europe, has completed the sale of its Safestay Glasgow Charing Cross freehold property to an independent third-party investor for £5.1 million in cash.
Net proceeds will be applied to repaying debt and bolstering working capital, with the Glasgow site ceasing to trade under the Safestay brand following completion.
The disposal forms part of a stated strategy to unlock value from selected UK freehold assets while shifting toward an asset-light operating model.
