WNER Wt Wner Usd

RNS Number:8853Y
Warner Estate Holdings PLC
20 May 2004


                           Warner Estate Holdings PLC

                    WARNER ESTATE STRENGTHENS PROPERTY FUNDS
                             WITH TWO ACQUISITIONS

Warner Estate Holdings PLC ("Warner Estate"), the property investment company,
has today announced that it has acquired two properties for two of the property
funds which it co-owns and manages.
     
1.   Birmingham - Office Acquisition

     Warner Estate has acquired a Grade A office building in Birmingham for 
     #43.75 million, which it intends to add to the #110m Skipper Regional 
     Office Fund which it co-owns and manages in joint venture with the Royal 
     Bank of Scotland.

     The 136,500 sq. ft. fully air-conditioned office building is located in
     Birmingham's Central Business District. The building is let to a number of
     blue-chip tenants including HFC Bank, The Commission for Patient & Public
     Involvement in Health and Donaldsons Surveyors. The current rent per annum 
     of #3.043 million represents a net initial yield on the purchase price of 
     6.83%.

2.   Glasgow - Distribution Unit Acquisition

     Warner Estate has also agreed to acquire a distribution unit near Glasgow 
     for #5.675 million.

     The property will be added to the #113m Radial Distribution Fund, Warner
     Estate's joint venture with Bank of Scotland Corporate Banking. The 124,000 
     sq. ft. property is located close to Glasgow airport. It is let, on a long 
     lease expiring in October 2013, to Hays Distribution Services who operate a
     distribution contract for DIY retailer B&Q from the site. The current rent 
     of #433,000 per annum represents a net initial yield on the purchase price 
     of 7.5%.

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

"We are delighted to announce these well located acquisitions, which advance our
strategy to increase significantly the size of the property funds which we
co-own and manage.

"We have the team with the skills to achieve growth through active management of
these assets and to deliver reliable and sustainable returns for our investors
and partners."

On the acquisition of the office building in Birmingham, the vendor, Camrose
Properties was represented by DTZ. On the acquisition of the distribution unit
in Glasgow, Warner Estate was represented by DTZ and Colliers CRE and Drivers
Jonas acted for the vendor, Kenmore.

                                     -ends-
Date: 20 May 2004
For further information contact:

Warner Estate Holdings PLC                         City Profile
Philip Warner, Chairman                            Simon Courtenay
Richard Moore, Property Director                   Chris Lane
Peter Collins, Finance Director                    Tel: 020-7448-3244
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
ACQUKRWRSKRVAAR

Wt Wner Usd (LSE:WNER)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024

Wt Wner Usd (LSE:WNER)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024