Home REIT (LSE:HOME) on Monday told investors it has completed the sale of its remaining 853 properties, generating gross proceeds of £138.8 million as it advances its managed wind-down.
The London-listed residential property group, which has been unwinding its portfolio after a period of financial and governance scrutiny, said all of its subsidiaries entered creditors' voluntary liquidation following the final disposals, a step the board considers necessary to progress planning for any future return of capital to shareholders.
The board will provide a further update on the subsidiary liquidation process in the coming weeks.
Also, the board said it had reviewed the marginal cost of maintaining its stock exchange listing and concluded it was not material against the company's broader wind-down expenses.