UK-based chilled foods group Uniq has announced that it has entered into an unconditional contract to sell the site of its former St Ivel factory at Wootton Bassett to Kingsoak Homes, a Barratt subsidiary, for a cash consideration of £19m (US$34.5m). 

“This sale further strengthens our balance sheet as we continue to pursue our strategy of being the most innovative and efficient provider of chilled food solutions in Europe,” said Uniq’s chief executive, Bill Ronald.

Uniq said half of the payment will be received this financial year and half next year. The proceeds will be used to reduce borrowings.