Flooring supplier Victoria PLC has confirmed the completion of the €34.4m 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 group said. “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.”
