Balanced Commercial Property Trust, which is managed by Columbia Threadneedle and owns a portfolio valued at in excess of £1 billion, said it had received interest from a number of credible parties while it was also considering a managed wind-down.
The update in a listed filing comes after it confirmed on 15 April that its board had begun a strategic review process to consider its future and best ways to realise value for shareholders.
The board said it has undertaken an open consultation process with a significant proportion of shareholders and found that generally shareholder feedback confirmed the need for change from the status quo.
The board said it has received interest from a number of credible third parties who are currently reviewing information in respect of the company and its portfolio.
But it said there can no certainty at this stage that the final terms of any proposal that may be received would be sufficiently attractive to merit a board recommendation. It continues to pursue actively such third party interest, alongside considering other options such as a managed wind down.
As of the first quarter of this year, the trust, which was launched in 2005, has a portfolio valued at £1.014 billion with assets located across the country and in a mix of sectors including retail, industrial and offices.
The largest asset, valued in excess of £200 million, is the St Christopher’s Place Estate in London's West End followed by the Sears Retail Rark in Solihull, valued at between £50 million and £70 million.
Like many other property companies and REITs, the Trust has been hit by from a materially wide discount of its share price to net asset value in recent years but this has narrowed in recent months.