RNS Number:9971B
Wynnstay Properties PLC
16 August 2004

WYNNSTAY PROPERTIES PLC ("Wynnstay" or "The Company")

16 August 2004



Investment Property Acquisition



Wynnstay Properties PLC announces that on 16 August 2004, it exchanged contracts
for the purchase of a self-contained industrial investment at Crockford Lane,
Chineham, Basingstoke, Hampshire for a cash consideration of #1,500,000 which
will be funded from the Company's existing loan facilities.  Completion is
scheduled for 31 August 2004.



This freehold property comprises three adjoining industrial/warehouse units,
totalling 22,495 sq.ft.  It is fully let on leases expiring between January 2005
and May 2011, currently producing an income of #128,150 per annum, equivalent to
a yield of approximately 8% per annum, after taking account of acquisition
costs.  The property is located approximately 1 mile from Basingstoke town
centre and is adjacent to Chineham Business Park, which has over 750,000 sq.ft.
of high quality business space, occupied predominately by blue chip and
high-tech companies.  It is also well placed for convenient access to
Basingstoke's other industrial estates and to the A33 trunk road and the M3
motorway.



Commenting on the transaction, Philip Collins, Chairman, said "This acquisition
represents a further significant addition to Wynnstay's portfolio.  The property
is well located in an area which continues to prosper as a major business centre
in southern England."



Ends






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