FCPX F&C Commercial

 

TIDMFCPX 
 
RNS Number : 9562V 
F&C Commercial Property Trust Ltd 
20 July 2009 
 

 
 
20 July 2009 
 
?F&C COMMERCIAL PROPERTY TRUST LIMITED ('the Company') 
Purchase of Property 
 
 
 
 
The Board is pleased to announce that, on 17 July 2009, the Company exchanged 
contracts to purchase Site E4, Daventry International Rail Freight Terminal 
(DIRFT) Logistics Park, Daventry, for GBP17.25 million representing a net 
initial yield of 9.05%. DIRFT Logistics Park is one of the UK's premier 
distribution and logistics parks located adjacent to junction 18 of the M1 
motorway. 
 
 
The property, constructed in 2005, comprises a well-specified distribution 
warehouse of approximately 300,000 sq ft and is let to Excel Europe Ltd until 31 
May 2015 at a current passing rent of GBP1,650,000 per annum. The tenant 
operates, under contract, Mothercare's national distribution centre from the 
property. 
 
 
This is the first acquisition by the Company since its launch in March 2005. The 
purchase, to be made from the Company's available cash resources, will enhance 
the Company's revenue account and dividend cover. Completion of the purchase is 
scheduled for 29 July 2009. 
 
 
All enquiries: 
 
 
Richard Kirby 
F&C REIT Asset Management LLP 
Tel: 0207 016 3577 
 
 
The Company Secretary 
Northern Trust International Fund Administration Services (Guernsey) Limited 
Trafalgar Court 
Les Banques 
St Peter Port 
Guernsey 
 GY1 3QL 
Tel:  01481 745324 
Fax: 01481 745051 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 ACQRMMBTMMITBML 
 

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