Acquisition of Property

RNS Number:6065F
Westbury Property Fund Limited
27 December 2002

Westbury Property Fund Limited

27 December 2002



ACQUISITION OF PROPERTY



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



The Health & Fitness Club, Queen Elizabeth Barracks, Guildford, has been
acquired for a cash consideration of approximately #3.78m. This is a two stage
funding. Westbury will acquire the site on exchange for #1.5m with the balance
paid on completion of construction and lease commencement that is scheduled for
Summer 2003. The unit has been pre-let on a 25-year lease without breaks to
Esporta Health & Fitness Limited with surety from Esporta plc. On completion,
the unit will show a net initial yield of 7.65%.



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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