CDFF Cardiff Property Plc

RNS No 8677e
CARDIFF PROPERTY PLC
19th August 1997


                          ACQUISITION OF PROPERTY 
               AT HEADLAND HOUSE, BROOKWOOD, WOKING, SURREY

First Choice Estates Plc, a wholly owned subsidiary of The Cardiff Property Plc,
has today acquired the freehold of Headland House, Brookwood, Woking, Surrey,
and adjoining land, for a cash consideration of #560,000. The acquisition has
been funded from bank borrowing facilities and is being jointly undertaken with
South Molton Properties Ltd.

The site area totals approximately 1.7 acres and includes an existing office
building of 12,000 sq. ft. part of which is currently occupied on a short term
lease at a rent of #35,000 per annum. The remaining space is in need of
refurbishment and will be made available on a short term basis for office and
storage use. When fully let the existing building is expected to produce a total
annual rental of approximately #50,000.

The property has an outline Planning Consent for 18,000 sq. ft. of offices and
it is intended to obtain a detailed Approval whilst considering alternative uses
for the site.

For further information contact:

The Cardiff Property Plc         Richard Wollenberg         01784 437444      
Albert E Sharp                   Naresh Gudka/Will Martin   0171 638 7275
Binns & Co. Public Relations     Brian Coleman-Smith        0171 786 9600

END

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