Stenprop sells majority of Swiss portfolio

Stenprop has sold the bulk of its Swiss portfolio for £79.7m as its concentrates its efforts on becoming a UK multi-let industrial investor.

In July it completed the sale of two Swiss assets at Altendorf and Arlesheim, via the sale of the entire issued share capital of holding company Polo Property to Helvetica Swiss Commercial for CHF27.3m (£21m).

Three other subsidiaries of Stenprop have also entered into agreements for the disposal of five additional Swiss properties totalling CHF76.35m (£58.73m).

Stenprop has previously announced its intention to become a specialised UK multi-let industrial REIT and over