Schroder Real Estate : SREI – disposal

Schroder Real Estate has sold a 9.1 acre site in Hinckley for £4.525m (a £675,000 uplift on the last valuation). The buyer is Redrow Homes who will build houses on the site in Coventry Road, Hinckley – Schroder Real Estate secured planning for 122 residential units last August. The fund gets 50% of the consideration upfront and the balance nine months later. It can also get additional revenue linked to the value of residential sales achieved by Redrow (the terms of this are not disclosed).

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