TCSC Town Centre

RNS Number:3481H
Town Centre Securities PLC
07 August 2006





For immediate release                                            7th August 2006






                   Town Centre Securities PLC ("the company")


                                #64.5m disposal


Town Centre Securities PLC, the Leeds based property investment and development
company, announces the recent sale of No.1 Whitehall Riverside to New Star Asset
Management for #64.5m before disposal costs.


The sale of this 12,032 square metre office building, the development of which
was completed earlier this year, reflects a sub 5% net initial yield. The
building is 80% let, on 20 year leases, to three tenants. The fully let, passing
rent of the building is in the region of #3.24m per annum.


Edward Ziff, Chairman and Chief Executive of Town Centre Securities PLC
comments:


"We are delighted to have undertaken this stunning new office development and,
in turn, capitalised on the current strong demand for offices. It is a tribute
to the quality of the development that we achieved three substantial pre-lets
long before practical completion. This is, however, only the second phase of our
masterplan which should see the future development of a further 400,000 sq ft on
the Whitehall Road site."



For further information, please contact:

Town Centre Securities plc                               www.tcs-plc.com
Edward Ziff, Chief Executive                             0113 222 1234
John Sutcliffe, Finance Director

Smithfield
Reg Hoare/Katie Hunt                                     020 7360 4900






                      This information is provided by RNS
            The company news service from the London Stock Exchange

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