19th Nov 2007 14:24
Warner Estate Holdings PLC19 November 2007 Warner Estate Holdings PLC WARNER ESTATE COMPLETES OVER £10M OF PROPERTY SALES Warner Estate Holdings PLC ("Warner Estate") has sold three properties fromwithin its wholly owned portfolio. Two vacant office properties, at Avon Housein Solihull and Systems House in Woking, and Europa Trading Estate in Kentachieved a total price of £10.52million The freehold interest in Europa Trading Estate in Kent has been sold for£5.5million, reflecting an initial yield of 3.82%. Located in Erith, Kent, theindustrial estate comprises 77 industrial units. Avon House, Stratford Road, Shirley in Solihull has been sold for £3.2million todeveloper, Barteak Developments Limited, to be used as their head office. Thebuilding comprises 18,720 sq ft (1,739sqm) with a capital value of £171 per sqft. The freehold of Systems House in Woking has been sold to Mill Street PartnershipLimited for £1.82million, a capital value of £164 per sq ft. The 11,062 sq ft(1,027sqm) office building is situated in Woking town centre. Michael Stevens, Property Director at Warner Estate, comments: "We areparticularly pleased, given current market sentiment, to be reporting theprofitable sale of these assets, demonstrating that well located properties arestill in high demand. We continue to seek investment opportunities for ourwholly owned portfolio, which is a diverse and flexible area of the Group'sbusiness" - ends - Date: 19th November 2007 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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