Credo Property Group Limited
Credo European Property Fund sells
Ashbourne Homes for £23m
We are pleased to announce that the investment in Ashbourne Homes was sold on 14 December 2007 at a price of £23m resulting in an IRR of 15% for investors and reflecting an approximate yield of 5%.
The portfolio consists of 5 nursing homes, leased for 30 years to Ashbourne Homes located in Blackburn, Leeds, South Shields, Sunderland and Worksop.
The sale is viewed as especially impressive considering current market conditions where values have started to drop.
For further information on this Fund or Credo’s other investment opportunities please contact your Relationship Manager or email us at info@credogroup.com
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+44 (0)20 7291 3200 www.credogroup.com
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