Aisi Realty Public Limited New Letting at Terminal Brovary Logistics Park (7411I)
July 30 2012 - 2:00AM
UK Regulatory
TIDMAISI
RNS Number : 7411I
Aisi Realty Public Limited
30 July 2012
30 July 2012
Aisi Realty Public Limited
(the "Company" or "Secure Property Development and Investment
Limited")
SECURE PROPERTY SIGNS 55,238 SQ FT LETTING TO AMWAY AT TERMINAL
BROVARY LOGISTICS PARK, KIEV
Secure Property Development & Investment Limited, formerly
Aisi Realty Public Limited*, a South Eastern European focused
property and investment company, today announces that it has signed
a new 3 year lease agreement for 55,238 sq ft (5,132 sqm) to Amway
at its main operating asset, Terminal Brovary Logistics Park ("the
Park"), in Kiev, Ukraine. The letting increases occupancy at the
Park to over 83% compared with 20% in August 2011, when a new
internal team took over the management of the Company, and brings
the total annualised income from the property to more than US$3
million.
Amway is a one of the world's largest direct-selling companies,
supplying consumer products, primarily in the nutrition, beauty and
home care markets. It operates in more than 80 countries and
territories worldwide through more than three million distributors,
500,000 of which are located in Europe. Amway has successfully been
doing business in Europe since 1973 and is currently active in 29
European countries, with more than 1,500 employees across the
region.
Situated in the Ukrainian capital of Kiev, Terminal Brovary
comprises circa 525,000 sq ft of Class A warehouse and associated
office space and is well-located, adjacent to the junction of the
main Kyiv - Moscow highway and the Borispil road.
The letting to Amway follows the circa 150,000 sq ft of lettings
at Terminal Brovary announced in June 2012, and is in line with the
management team's plans to maximise income from the Park. Since the
introduction of the new internal management in August 2011,
occupancy at the Park has increased more than fourfold and the Park
is now cash flow positive.
The lettings also build on a number of successful initiatives
that have been implemented as part of a wider strategy to turn the
business around, improve the Company's financial strength, and
reposition it for future growth.
Lambros Anagnostopoulos, Chief Executive Officer of Secure
Property, commented:
"The signing of this lease with Amway is further evidence of the
management team's ability to secure significant lettings to high
quality tenants, in order to increase income and generate value
from the Company's assets. We have made excellent progress with
lettings at Terminal Brovary, and will continue to focus on
reducing vacancy at the property.
"The lettings that we have achieved to date represent strong
delivery of our plans to increase capital values at the centre, as
we work hard to execute our strategy to enhance the Company's
performance and future prospects."
* The name change is subject to shareholder approval at the next
Annual General Meeting
- Ends -
Enquiries:
Secure Property Development & Investment Ltd (formerly Aisi Realty Public Ltd) + 380 44 459 3000
Lambros Anagnostopoulos
+44 (0)20 3100
Liberum Capital Limited (NOMAD and Broker) 2222
Chris Bowman / Richard Bootle
+44 (0)20 7831
FTI Consulting 3113
Richard Sunderland / Will Henderson / Toyah Simpson
Notes to Editors
About Secure Property Development and Investment Limited
Secure Property Development and Investment Limited ("SPDI") is a
South Eastern European focused property company incorporated in
Cyprus. The Company's portfolio comprises the Terminal Brovary
logistics park in Kiev (Gross Leasable Area of circa 50,000 sqm),
and four development projects at different stages of progression,
which have a combined value of EUR33 m.
Established in 2005, SPDI employs a team of 15 experienced
professionals operating across three countries. In August 2011,
following a transaction with Narrowpeak Consultants Ltd a new
internalised management team was introduced to settle the Company's
liabilities and create and execute a strategy for growth. SPDI's
shares are publicly traded on the AIM market of the London Stock
Exchange (AIM:AISI).
About South East Continent Unique Real Estate Management
(SECURE)
South East Continent Unique Real Estate (SECURE) Management
("SECURE") is a private equity platform that manages property
investment and development vehicles in South East Europe. SECURE
Investments I and II, have invested in residential and mixed-use
developments totalling circa 300,000 sqm in Bulgaria, Romania and
Serbia. SECURE is domiciled in the European Union with offices in
Cyprus and Romania and has an active presence in Bulgaria and
Ukraine.
With EUR250m worth of Assets Under Management (AUM) SECURE
employs a team of 16 full time professionals, working across five
countries, with a wealth of international experience and a strong
track record in the real estate development, investment and finance
sectors. SECURE was established in 2007 and, through a conservative
and risk management focused approach, has managed to steer its
clients through the difficult global economic crisis whilst
continuing to add value, having even achieved an increase in the
Net Asset Value for its Investment Vehicles since inception.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLLFSEDTIDFIF
Secure Property Developm... (LSE:SPDI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Secure Property Developm... (LSE:SPDI)
Historical Stock Chart
From Jul 2023 to Jul 2024