HNA sells production again. CWT International (0521), a listed company of the group, announced yesterday that it would sell a commercial property in Canary Wharf, London for about 110 million pounds
Management Group, Sun Hung Kai Corporation (0086) and a private investment company, the indicative estimated net income from the disposal is approximately £ 3.9 million (approximately HK $ 40.142 million).
The CWT announcement mentioned that the board considers the sale to take into account adverse market conditions
including Brexit, downward macroeconomic pressure, average return on investment in properties, and the company’s need to sell non-core assets to increase its liquidity, enabling the company to repay approximately 1.63 billion Part of the loan and related interest payments.
Unearned rental returns
According to the information, CWT acquired Columbus Courtyard No. 17 B-4 and its expanded properties at Canary Wharf for 140 million pounds (approximately HK $ 1.441 billion) in 2016. Based on the current sale price, it is equivalent. The book loss was over 300 million yuan.
However, according to the announcement at the time, the commercial building recorded rental income of about 6.4 million pounds (about 65.874 million Hong Kong dollars) in 2015, and it is estimated that there will still be a certain rental return in the past four years.