Alpha Pyrenees sells vacant Spain warehouse

Alpha Pyrenees announced on Thursday that it has sold a vacant warehouse located in Zaragoza, Spain for €0.37m.

The London-listed firm said the property is approximately 2,590 square metres and is located on an established industrial estate.

It confirmed the purchaser is a private Spanish engineering company, but provided no further details.

“The sale forms part of the orderly realisation process supported by the trust's lender, Barclays Bank, and the net proceeds from this sale will be used to reduce the trust's bank borrowings,” its board said in a statement.

“As the board has previously stated, the sales process will not result in any return to ordinary shareholders after repayment of the trust's bank borrowings has taken place, to the extent that this is possible.”