vpg sells (pound) 94.25m portfolio, page-3

Thanks for the info junk. It is good to see some evidence of the property market improving in Europe. This is all good for Valad. The Top Ryde sale seems to have gone quiet again. The property is still on the market and there must be lots of interest in it. I read that Bevillesta have breached their covenents on their Darling Harbour investment. This should encourage them to continue with their plans to conclude a sale at Top Ryde which should allow Valad to majorly improve their balance sheet.Cameron from Gpt said that they walked from the purchase of Top Ryde as they could not get it cheap enough. So much for the media reports of a sale being concluded. If the two parties never agreed on a price then you would wonder how anyone decided that a deal had been done. Valad do not have a lot of control over this sale as they only have a second tier mortgage, unlike Goldfields, Pentridge and Noosa where they have a business share. Something must give soon to allow us to free up some cash and get this trashed share price back on an upward trajectory.