Retail Charity Bonds | Greensleeves Homes Trust | Roadshow Announcement



  • edited October 5
    On 15 April 2019, we exchanged contracts for the sale of our freehold interest in land at two sites in Streatham, South West London, and Bickley in Kent. This was after a number of years of discussion and research plus a more recent joint marketing arrangement with Stonewater Housing, the leaseholders of the land on which their social housing was located. The two parcels of land had a book value as at 31 March 2019 of £61,321 and this had been reclassified as a current asset in last year’s accounts pending disposal this year. The sale was completed in two stages; firstly on 13 May 2019 and secondly on 20 May 2019, realising combined sale proceeds of £16.2million which represented the true market value of the land ascertained following a comprehensive joint marketing exercise and receipt of a Qualified Surveyor’s Report. The Trust’s share of the proceeds was negotiated as £10million generating an overall gain of £9.7million and this is being used towards funding ongoing development projects.

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