Aisi Realty Public Limited New Letting at Terminal Brovary Logistics Park (9800R)
November 26 2012 - 4:20AM
UK Regulatory
TIDMAISI
RNS Number : 9800R
Aisi Realty Public Limited
26 November 2012
26 November 2012
Aisi Realty Public Limited
("the Company" or "Secure Property Development and Investment
Limited")
SECURE PROPERTY SIGNS 52,835 SQ FT LETTING TO BILLA 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
secured a 52,835 sq ft letting on a five year lease to supermarket
operator BILLA-Ukraine Enterprise ("BILLA") at its main operating
asset, Terminal Brovary Logistics Park ("the Park") in Kiev,
Ukraine, bringing occupancy at the Park to 90%. BILLA was
previously present at the Park, occupying space sub-let by DSV;
following the termination of DSV's lease at the park, BILLA has now
taken all of the 35,765 sq ft that was previously let to DSV and an
additional 17,070 sq ft.
BILLA is a subsidiary of REWE Group, one of the leading food
retail groups in Europe, which operates in 16 countries and
generates turnover of c. EUR51 billion per annum. BILLA has been
active in the Ukraine since 2000 and now operates 22 supermarkets
in the country, employing 1,500 people, and represents a very
strong tenant for the Park.
This is the latest in a series of lettings, and further
demonstrates the Company's success in implementing its plans to
improve capital returns at Terminal Brovary. Since the introduction
of the new internal management in August 2011, occupancy at the
Park has increased from a low of 20% to its current level and the
property has become cash flow positive. The letting also builds on
a number of successful initiatives which 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.
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.
Lambros Anagnostopoulos, Chief Executive Officer of Secure
Property, commented:
"The letting to BILLA follows a series of successful deals in
recent months that have helped us reach the level of almost full
occupancy at Terminal Brovary, as we work to maximize income from
the property. BILLA is a well-established and growing business,
particularly in Eastern Europe, and represents an excellent
addition to our roster of tenants at the Park, and its decision to
expand its space is a strong endorsement of Terminal Brovary."
x The name change is subject to shareholder approval at the
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
FTI Consulting +44 (0)20 78313113
Richard Sunderland / Will Henderson/
Daniel O'Donnell
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
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