16th Oct 2006 11:04
Warner Estate Holdings PLC16 October 2006 Warner Estate Holdings PLC FURTHER GROWTH FOR RADIAL DISTRIBUTION FUND Warner Estate Holdings PLC ("Warner Estate") has today announced, on behalf ofits Radial Distribution Fund ("Radial") joint venture with Bank of Scotland, the£14.3million acquisition of Radial Point, reflecting a net initial yield of6.08%. Radial Point, in Stoke, is a183,000sq ft new build unit purchased from BAPension Fund. Let to Marks & Spencer on a 10-year lease, the property providesan annual income of £918,750. Michael Stevens, Property Director at Warner Estate comments: "Following thepurchase earlier this month of the Howdens Joinery distribution unit atBrackmills, the addition of this new build asset represents further significantgrowth for the fund in the prime Golden Triangle strong hold." - ends - Date: 16th October 2006 For further information contact: Warner Estate Holdings PLC City ProfilePhilip Warner, Chairman Simon CourtenayMichael Stevens, Property Director Tel: 020-7488-3244Peter Collins, Finance DirectorTel: 020-7907-5100Web: www.warnerestate.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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