Grit Real Estate Income Group Limited
GR1T · Main Market · Real Estate · mcap £32m · 6.2p 3 open situations →
Open · 3
Development platform disposal
A proposal for GREA and APDM was first disclosed on 29 April 2026. On 26 Oct 2026 the Board accepted a conditional binding offer, but definitive agreements are still to be completed. The assets sit within a financing structure, so lender agreement is needed on terms and timing.
- Business sold
- Group's interests in GREA and APDM plus certain associated assets and liabilities 26 Oct 2026 ↗
- Status
- Conditional binding offer accepted 26 Oct 2026; definitive agreements still to be completed 26 Oct 2026 ↗
- Conditions
- Lender approvals, releases of existing security, regulatory and third-party approvals 26 Oct 2026 ↗
- Price
- not stated 26 Oct 2026 ↗
Next: Definitive agreements and lender agreement on terms and timing
- 26 Oct 2026 Binding offer accepted; terms under discussion
- 26 Oct 2026 Binding offer accepted; terms under discussion
Remaining property portfolio disposal
Announced 26 Oct 2026: after an adviser sought bids, the best expression of interest gained support from senior secured creditors, who committed conditionally to continue funding working capital to close it. Due diligence is substantially complete and documentation is being negotiated. Together with other disposals, all real estate would be sold.
- Buyer
- Preferred prospective acquirer, not named 26 Oct 2026 ↗
- Business sold
- Substantial portion of the remaining income-producing property portfolio 26 Oct 2026 ↗
- Conditions
- Definitive agreements, lender credit approvals, security releases, regulatory and third-party consents 26 Oct 2026 ↗
- Lender support
- Senior secured creditors committed, subject to conditions, to continue providing working capital 26 Oct 2026 ↗
- Price
- not stated 26 Oct 2026 ↗
Next: Conclude definitive agreements; lender credit approvals and security releases
- 26 Oct 2026 Preferred acquirer; due diligence largely complete
- 26 Oct 2026 Preferred acquirer; due diligence largely complete
Lender support and restructuring
Lenders have supported the Group with maturity extensions, standstills, working capital and covenant condonements, but support is conditional. Audited results for the 18 months to 31 December 2025 and the interims to 30 June 2026 are unpublished, and trading in the shares is suspended. On 26 Oct 2026 the Board saw extremely limited recovery for ordinary shareholders.
- Lender support
- Maturity, standstill, working capital and covenant condonement arrangements; conditional, not unconditional 26 Oct 2026 ↗
- Reporting
- 18-month audited results and 30 June 2026 interims not published 26 Oct 2026 ↗
- Shareholder view
- Board considers prospects of any recovery for ordinary shareholders extremely limited 26 Oct 2026 ↗
- Advisers
- Chief Restructuring Officer appointed; legal and financial advisers engaged 26 Oct 2026 ↗
Next: Lender agreement on liquidity, covenants and transaction milestones
- 26 Oct 2026 Conditional lender support; accounts unpublished
- 26 Oct 2026 Conditional lender support; accounts unpublished
Closed · 1
Company filings. Not investment advice.