After fending off DL Invest, ASLI.L announced a property sale today. They sold their cold storage warehouse in Waddinxveen for ~€35m, a ~5.7% yield / €1,100 per square meter.

This was about 4% below my valuation estimate but 4.5% above the Q3 2025 independent valuation. Proceeds were used to repay debt secured by this asset and another Dutch warehouse. They also repaid another debt maturity in late Q4 that was due to mature in February.

No big movement in my liquidation value estimate which remains ~€0.36 per share. At the current share price (£0.27 / €0.31) continues to trade between a 10% - 15% discount.

Three assets left to sell. One asset under contract with the remaining two in sales process and subject to due diligence.