Disposal
March 25 2010 - 10:44AM
UK Regulatory
TIDMKEIF
RNS Number : 2035J
Kenmore Euro Industrial Fund Ltd
25 March 2010
25 March 2010
Kenmore European Industrial Fund ("KEIF"/ "Fund')
KENMORE EUROPEAN INDUSTRIAL FUND COMPLETES
SALE OF BELGIAN ASSET
Kenmore European Industrial Fund today announces that it has sold a logistics
unit in the town of Olen, to the east of Antwerp, to Bolckmans Immobilien Groep,
a local industrial investor, for a total consideration of EUR4,350,000.
The property comprises a 197,789 sq ft (18,375 sq m) logistics unit dating from
1989. The building has been vacant since last year, following the departure of
its former tenant. Occupational demand in this market and for this size of unit
is currently weak and there is new logistics space available in the same
locality.
Following the disposal, the KEIF Belgium portfolio occupancy rises to 86.1% from
71.5%.
Rob Brook, Managing Director of Kenmore Financial Services Limited, commented:
"Given the current lack of demand for this size of unit, a sale was undertaken
to improve the occupational profile of the KEIF Belgian portfolio in the light
of the forthcoming refinancing."
-ENDS-
For further information, please contact:
Stephanie Highett / Dido Laurimore / Olivia Goodall, Financial Dynamics
Tel: 020 7831 3113
This information is provided by RNS
The company news service from the London Stock Exchange
END
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