WPFI Westbury Inc

RNS Number:5766F
Westbury Property Fund Limited
24 December 2002

Westbury Property Fund Limited
24 December 2002



Acquisition of Property



The Westbury Property Fund Limited today announces that it has exchanged
contracts on the acquisition of a property.



Area 7, Pershore Road, Worcester, has been conditionally acquired for a total
cash consideration of #5.56m payable in a number of instalments to the scheduled
completion of September 2003.  The acquisition comprises a single storey
distribution unit with integral two-storey office accommodation. The unit has
been pre-let on a 20-year lease without breaks to Arrow Distributors Limited
guaranteed by Cranham Group plc. On completion, the unit will show a net initial
yield of 8.37%.



This acquisition is in line with the Westbury Property Fund objective to have a
diversified and regionally balanced commercial property portfolio let to good
covenants on long leases.





For further information please contact:



Richard Burrell                                    01244 893680
Westbury Property Fund Limited


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

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