Regis Healthcare Limited has revealed the sale of its surplus property assets

Regis Healthcare Limited (ASX: REG) has entered into a binding agreement with Hesperia, sealing the sale of vacant land and the Hollywood Village in Nedlands, WA. The deal is valued at AU$ 53 million in total. The decision to sell these non-income generating assets aligns with Regis' strategic objective of unlocking capital for reinvestment in more lucrative core business opportunities.

As a result of this sale, Regis expects a substantial improvement in its balance sheet, with a projected 58% reduction in net debt before deploying the proceeds into other ventures. The sale is anticipated to be finalized before June 30, 2023. This transaction will bolster Regis' financial position, providing enhanced stability and greater flexibility to pursue future endeavours.

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