24th Mar 2005 17:20
Insight Foundation Property Tst Ltd24 March 2005 Insight Foundation Property Trust Limited Acquisition of an office property The Insight Foundation Property Trust Limited ("IFPT") announces that it hastoday exchanged unconditional contracts to acquire an office property inBrighton ("the property") at a price of approximately £16.3 million from aprivate investor. The property currently produces approximately £1.3 million perannum and a yield of 7.8%. The high quality office property is let to a goodtenant for a further 4.5 years and presents a significant opportunity to addvalue to achieve the Trust's stated objectives. Completion is anticipated on the30th March, when a further announcement will be made. Enquiries: Duncan Owen (Insight Investment Management) 0207 321 1676 Paul Smith / Jeff Lanyon (RBSI) 01481 740 820 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Schroder Real