Completion of Belgium property sale
Victoria PLC has completed the sale and leaseback of its Belgian distribution centre for €34.4 million, significantly exceeding its net book value of €5.6 million as of January 31, 2026, with existing tax losses to offset capital gains tax. This transaction, alongside two other property disposals, is expected to fully fund the exceptional costs and capital expenditure related to the ongoing relocation of Balta Rug's production to Turkey, a project anticipated to conclude in the third quarter of fiscal year 2027, while the distribution centre will remain a key European hub.
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Victoria PLC (LSE: VCP), the international designer, manufacturer and distributor of innovative flooring, is pleased to confirm completion of the €34.4 million sale and lease back of its Belgian distribution centre to Avantage Property Holding BV. The consideration compares to a net book value of €5.6m as at 31 January 2026 and existing tax losses will be utilised to mitigate capital gains tax.
The relocation of the majority of Balta Rug's production to Turkey is well advanced, with finalisation of this very substantial project expected during Q3 FY2027. The distribution centre will remain the key European distribution hub for Balta Rugs.
Alongside two additional surplus property disposals that are in process, the proceeds are expected to fully fund the exceptional costs and capital expenditure associated with the transfer of manufacturing to Turkey.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.