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(Sharecast News) - Robinson said on Thursday that it has completed the sale of part of its Walton Works surplus property, generating proceeds that would be used to reduce bank debt as the packaging group continued to monetise non-core assets.
The AIM-traded manufacturer of plastic and paperboard packaging confirmed the disposal of about 1.3 acres of land, with completion taking place on 18 March following the satisfaction of planning and other conditions.
Contracts for the sale were originally exchanged in August 2023.
The gross consideration had previously been expected to total 1.03m, with associated costs of 429,000.
However, final costs of 412,335 were borne by the buyer, resulting in net proceeds to Robinson of 616,665 at completion.
The property, which was largely vacant and partly let on short-term tenancies, generated rental income of 7,000 during 2025 and had a book value of 540,000 at the end of the year.
Robinson said the proceeds from the disposal would be applied towards reducing existing bank debt, in line with its strategy to strengthen the balance sheet.
The company added that it was continuing to pursue the disposal of surplus property assets over time, with the aim of unlocking value and redeploying capital into its core packaging operations.
At 1148 GMT, shares in Robinson were down 1.3% at 113.5p.
Reporting by Josh White for Sharecast.com.
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