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Commercial Focus Boosts Warner Results

LONDON-Warner Estate has continued its transformation into a specialist commercial investor.

By Graham Parker | Updated on June 20, 2001

LONDON-Warner Estate has continued its transformation into a specialist commercial investor, following the sale of £118 million ($164 million) of residential assets. The transformation helped drive net asset value up 16% to 403p in the 18 months to 31 March 2001.

Warner has sold its stake in residential investor BPT for £61 million ($85 million) and divested itself of its residential holdings in Walthamstow, North-West London, for £57 million ($79.25 million). The proceeds are being reinvested in commercial properties, and Warner’s commercial portfolio has grown from £162 million ($225 million) to £290 million ($403 million).

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