SPDI Secure Property Dev&Inv PLC Completion of EUR12.6m Acquisition (8652H)
May 23 2014 - 2:01AM
UK Regulatory
TIDMSPDI
RNS Number : 8652H
SPDI Secure Property Dev&Inv PLC
23 May 2014
Secure Property Development and Investment Limited PLC
(SPDI.L)
("Secure" or the "Company")
SECURE PROPERTY SUCCESSFULLY COMPLETES THE EUR12.6 MILLION
ACQUISITION OF A 17,000 SQM LOGISTICS PARK IN BUCHAREST
23 May 2014 - SECURE Property Development & Investment PLC
(AIM: SPDI), a South Eastern European focused property and
investment company, today announces that, further to its
announcement of 10 March 2014, it has completed the acquisition of
Innovations logistics park in Bucharest, Romania, from Myrian Nes
Ltd and Theandrion Estates Ltd for EUR12.6 million. The acquisition
has been funded by EUR4.4 million of the Company's existing cash
resources and by issuance of 785,000 redeemable shares, with the
remainder funded by bank debt.
Innovations is a fully-let 17,000 sqm gross leasable area
logistics park located in Clinceni in Bucharest, which benefits
from being on the Bucharest ring road, and currently produces
EUR1.3 million of income per annum. The anchor tenant is Nestle
which leases more than 60% of the gross leasable area, with the
remainder let to locally managed Romanian businesses. This
acquisition is expected to increase the Company's annual net
operating income by over 60%.
The acquisition increases SECURE's regional logistics portfolio,
which also includes the fully let Terminal Brovary asset in Kiev,
to 67,000 sqm (with occupancy being at 100% of the warehouse
space).
- Ends -
Enquiries:
Secure Property Development & Investment
Ltd (formerly Aisi Realty Public Ltd) +30-210-7226470
Lambros Anagnostopoulos/Constantinos
Bitros
+44 (0)20 3100
Liberum Capital Limited (NOMAD and Broker) 2222
Chris Bowman / Richard Bootle
+44 (0)20 3727
FTI Consulting 1000
Richard Sunderland / Will Henderson /
Nick Taylor
This information is provided by RNS
The company news service from the London Stock Exchange
END
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