The West Midlands-based industrial developer announced today it would work towards REIT conversion on 1 July 2007
A&J Mucklow will be the 14th quoted property company to convert.
The cost of conversion will be based on the company's year-end valuation in June, but it is likely to be between £5m-£6m.
A&J Mucklow chairman Rupert Mucklow said: ‘The one-off payment will wipe out in excess of £25m.
‘It makes sense for both our shareholders and the company. Our business model fits nicely into a REIT now we are focusing more on development.’