Gresham House has announced the conditional sale of properties in Liverpool and London. The London-based investment trust said in has signed non-binding heads of terms with an unnamed party for the sale of Gresham's property interests on Speke Boulevard in Liverpool. The transaction price is set at £61 mln (EUR 87 mln) or 85% of market value - whichever is the higher, conditional upon planning permission being granted for change of use of the premises to A1 retail. The property was valued at £9 mln in Gresham's accounts at the end of December last year. The next step was to have solicitors draw up a formal contract, Gresham said.
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