21st Sep 2006 11:22
Warner Estate Holdings PLC21 September 2006 Warner Estate Holdings PLC WARNER ESTATE STRENGTHENS ITS PRESENCE IN CITY OFFICES Warner Estate Holdings PLC ("Warner Estate"), the property investment and fundmanagement company, has today announced the purchase of two City of Londonoffice buildings from a private Canadian investor for £96.5 million. Thepurchase price reflects a net initial yield of 5.2%. The two properties, 55 Old Broad Street, EC2 and Central House, CamperdownStreet, E1, provide a combined current rental income of £5.13million. 55 OldBroad Street is a multi-let office building totalling 98,477sq ft with retail onthe ground floor. Central House comprises 57,225sq ft of office space, which islet in its entirety to Maersk Line UK, one of the world's largest ship owners. Michael Stevens, Property Director at Warner Estate, comments, "Our purchase of 24-26 Minories, EC3 earlier this year marked our re-entry intothe Central London office market. These two purchases reflect our statedintention to increase our investment in this sector and to use our skills toenhance returns through active asset management. We continue to look for moresimilar stock in Central London" - ends - Date: 21st September 2006 Warner Estate Holdings PLC City Profile Philip Warner, Chairman Simon CourtenayMichael Stevens, Property Director Tel: 020-7488-3244Peter Collins, Finance DirectorTel: 020-7907-5100 Web: www.warnerestate.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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