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RNS Number:3230Q
Warner Estate Holdings PLC
22 August 2005





WARNER ESTATE EXPANDS RADIAL FUND WITH #8M ACQUISITION





Warner Estate Holdings PLC ("Warner Estate"), the property investment company,
has today announced that, on behalf of the Radial Distribution Fund, it has
purchased from Standard Life Investments the "Immanis" distribution warehouse
facility at Brackmills Distribution Park, Northampton. The #8m price reflects a
net initial yield of 7.1%.  The property was previously held in Standard Life
Investments' Pooled Property Pension Fund.



The Radial Distribution Fund, a joint venture launched in 2003 between Warner
Estate and Bank of Scotland, currently consists of 9 properties located at major
transport intersections across the country. Brackmills Distribution Park is
located on the M1 near Northampton, representing a key "Golden Triangle"
location for logistics operators.



The 11,743 sq m (126,411 sq ft) warehouse is let to Panasonic and currently
provides an income of #600,450 per annum.



Commenting on the purchase, Richard Moore, Property Director at Warner Estate
said:

"With businesses placing a premium on well located distribution centres, the
acqusition at Brackmills is an excellent addition to the Fund.

The warehouse meets Radial's twin objectives of further expanding the Fund,
while also singling out opportunities where returns can be enhanced through
active management."



Standard Life Investments was advised by Burbage Realty, while Bushe Gower
advised the Radial Distribution Fund.



                                     -ends-



Date: 22 August 2005



For further information contact:


Warner Estate Holdings PLC                                    City Profile

Philip Warner, Chairman                                       Simon Courtenay
Richard Moore, Property Director                              Oliver Winters
Peter Collins, Finance Director                               Tel: 020-7488-3244

Michael Stevens, Operations Director

Tel: 020-7907-5100
Web: www.warnerestate.co.uk




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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