WPFI Westbury Inc

RNS Number:2644B
Westbury Property Fund Limited
10 April 2006


The Westbury Property Fund Limited

10 April 2006


The Westbury Property Fund finances the acquisition of a freehold interest in a
strategic port site in Runcorn, Cheshire


The Westbury Property Fund ("Westbury") announces that Westlink Group Limited
("Westlink"), in which the Fund holds a 49.5% interest, has acquired the
freehold interest in a 44 acre site in Runcorn, Cheshire for #10.25m from
British Waterways.  Westlink has financed the acquisition via a secured loan
from Westbury.


The site which currently operates as a storage and handling facility is occupied
by Westlink Storage & Shipping Company Limited ("the Company"), which is wholly
owned by Westlink Group Limited.


The site is strategically located close to the M56 Motorway and supplements
existing land holdings at the location.  The acquisition is the first step in
the proposed redevelopment of the entire site which, once complete will offer
circa 500,000 sq ft of accommodation from which the Company intends to operate
an inter-modal port facility with road, rail, inland waterway and sea access.


Richard Burrell, Chief Executive of Berrington Fund Management and the
Investment Manager to the Westbury Property Fund, said:


"We are delighted that an agreement has been reached to acquire this important
site at Weston Point and we are looking forward to working with British
Waterways and other local stakeholders to commence the regeneration and
development of a full inter-modal port facility for the North West of England.
Today's announcement comes on top of very strong first quarter results for the
Westbury Property Fund seeing its net asset value per share increase by 9.24p
(7.2%) to 137.15p."


For further information please contact:


Richard Burrell  / Ben Browne-Clayton              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

ACQEANLEFESKEEE

Westbury Property Fund (LSE:WPFI)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024

Westbury Property Fund (LSE:WPFI)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024