Local Shopping REIT up for sale

The Local Shopping real estate investment trust (REIT) has hired investment manager Internos to sell its entire £173m portfolio and to return proceeds to shareholders. The company, which owns shops and convenience stores across the UK said that due to “continuing challenges”, an “orderly liquidation of assets” and the repayment of debt was in the best interest of its shareholders. It is still unclear how long the process will take.