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RNS Number:9360P
Warner Estate Holdings PLC
22 January 2007

                           Warner Estate Holdings PLC



      APIA REGIONAL OFFICE FUND ACQUIRES ICONIC NOTTINGHAM CITY OFFICE HQ



Warner Estate Holdings PLC ("Warner Estate") and Morley Fund Management have
today announced the strategic acquisition of New Castle House in Nottingham on
behalf of the Apia Regional Office Fund for #15.3million, reflecting a net
initial yield of 5.7%.



Purchased from LaSalle Investment Management on behalf of Mars Pension Trustees,
the iconic four-storey Headquarters office building provides 67,594sq ft of
air-conditioned office space.  The property is fully let to Gala Coral Group and
UPS for a further twelve and ten years respectively and the average rent equates
to an overall rate of #13psf inclusive of parking.



Following the appointment of Robert Game as Managing Director in November last
year, this acquisition is in line with a stated strategy to build a UK wide
portfolio of town centre and city centre offices in major regional centres,
bringing the Fund's total assets to #470million.



Michael Stevens, Property Director of Warner Estate comments: "This unique art
deco headquarters property, offers excellent prospects for future rental growth
and will benefit from planned investment concentrated in the southern area of
Nottingham City centre, including the redevelopment of the nearby Broadmarsh
Shopping Centre and the continued regeneration activity focused around
Nottingham Railway Station."



Apia is asset managed by Warner Estate and fund managed by Morley Fund
Management.

                                    - ends -

Date: 22nd January 2007



For further information contact:


Warner Estate Holdings PLC                                     City Profile
Philip Warner, Chairman                                        Simon Courtenay
Michael Stevens, Property Director                             Tel: 020-7488-3244
Peter Collins, Finance 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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