Housebuilder sells commercial property investments to Teesland IOB, Kiln Lane and Maybrook Properties.
Housebuilder MJ Gleeson has sold the majority of its commercial property investment portfolio to reduce its debts.
MJ Gleeson has sold property worth a total of 拢27.9m after a strategic review at the firm. The move follows last week鈥檚 sale of its concrete repairs business to management buyout vehicle Rangelast for 拢3m.
Gleeson has sold 拢17.8m its portfolio to property fund Teesland IOG, 拢3.3m to property investment company Kiln Lane, and 拢6.8m to Maybrook Properties.
Gleeson offloaded its construction division to a management buyout in March last year after the arm suffered a 拢16.6m loss.
