24th Oct 2007 10:59
ING UK Real Estate Income Trust Ltd24 October 2007 ING UK Real Estate Income Trust Limited ('IRET')24 October 2007 ING UK Real Estate Income Trust Limited continues successful sales programme ofsmaller assets ING UK Real Estate Income Trust Ltd ("IRET" / "the Company"), a Guernseyregistered closed-ended investment company, has exchanged contracts on the saleof 40 Garsington Road, Cowley, Oxford to an owner occupier, for GBP 4.85million. 40 Garsington Road is a freehold purpose built distribution warehouse totalling39,061 sq ft (3,628 sq m). The property, which is let to B H Blackwell Limited,will become vacant in November 2007 following a tenant break option. Theoutgoing tenant is paying the company a penalty of GBP 131,875, equivalent tosix months rental to terminate the lease. The sale is conditional on the purchaser obtaining planning consent to install amezzanine floor in the unit. This is expected to be achieved within the next 3months. Commenting, Michael Morris, Fund Manager, said: "This is the fifth sale of smaller assets from within the portfolio this year.It is consistent with our strategy to dispose of assets where there is limitedpotential to add value through future active management." For further information: All Enquiries ING Real Estate Investment Management (UK) LimitedSelina Sasse, 020 7767 5756, [email protected] Stott, 020 7767 5648 [email protected] Financial DynamicsDido Laurimore/Stephanie Highett, 020 7831 3113 The Company SecretaryNorthern Trust International Fund Administration Services (Guernsey) LimitedTrafalgar CourtLes BanquesSt Peter PortGuernseyGY1 3QL Tel: 01481 745439Fax: 01481 745085 END This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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