WPFI Westbury Inc

RNS Number:0823U
Westbury Property Fund Limited
14 November 2005

The Westbury Property Fund Limited
Property Acquisitions

14th November 2005


The Westbury Property Fund Limited (the "Company") announces that it has
completed the purchase of a property, completed an investment in a second
property and exchanged contracts to acquire a third property.


Acquisition of the long leasehold interest in the Lane Group Plc unit, Garonor
Way, Royal Portbury Dock, Bristol

Following the Company's announcement in September 2005 that it had contracted to
buy the Lane Group Plc industrial premises, Royal Portbury Dock, Bristol, the
Company is pleased to announce that the acquisition has now completed.

The Company paid #3.95m, reflecting a net initial yield of 7.78%.


Acquisition of ILVA unit, Metro Centre, Gateshead

The Westbury Property Fund has made a Venture Portfolio investment of
approximately #2.0m having acquired a 50% interest in a separately capitalised
special purpose vehicle which owns a freehold retail warehouse property at the
Metro Centre, Gateshead.  The purchase reflects an underlying property yield of
5.7%.

The property extends to 150,000 sq ft on a site of 7.25 acres and benefits from
an open A1 (non food) retail consent.  The property is let to ILVA Furniture for
20 years with a current rent of #2,850,000 per annum and the lease benefits from
5 yearly rent reviews to the higher of open market value or 2.5% per annum
compound.  The tenant is an established Danish furniture retailer.


Acquisition of 37 Soho Square, London W1

In line with its strategy to invest in central London, the Company has exchanged
contracts to acquire a freehold office property, comprising 9,500 sq ft in Soho
Square, London W1.  The property is leased to Bloomsbury Publishing for a term
expiring in July 2010 at a current rent of #316,500 per annum, equating to #34
per sq ft.

The price paid, #5.175m, reflects a yield of 5.8% and the transaction is
scheduled to complete in late November 2005.


For further information please contact:

Richard Burrell                         01244 893680 / 020 7659 6271
Berrington Fund Management LLP


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

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