Acquisition
June 02 2008 - 4:45AM
UK Regulatory
RNS Number : 7202V
Wynnstay Properties PLC
02 June 2008
Wynnstay Properties PLC, ("the 'Company")
Property Purchase
The Company is pleased to announce that contracts were exchanged on 30 May 2008 for the acquisition of Quarrywood Industrial Estate,
Lake Road, Aylesford Kent. This freehold industrial/warehouse estate was built in the early 1980's and comprises 18 self-contained units of
varying size, in three blocks totalling just over 50,430 sq.ft. The estate was acquired for �4,530,000, utilising the Company's existing
banking facility. This property, which represents the largest single asset by value in the Company, is fully let to 15 tenants and currently
produces an annual total rent of �367,204.
Philip Collins, the Company's Chairman, commented: "This acquisition fits very well with our property acquisition requirements in terms
of type, location and size and will provide opportunities for active asset management which should be value enhancing in the medium to
longer term."
Enquiries:
Wynnstay Properties plc
Paul Williams, Managing Director - 020 7745 7160
Nominated Adviser & Broker
Charles Stanley Securities
Rick Thompson / Carl Holmes - 020 7149 6000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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