1st Oct 2008 07:00
ING UK Real Estate Income Trust Limited
1 October 2008
ING UK Real Estate Income Trust announces disposal of mixed-use asset
ING UK Real Estate Income Trust Ltd ("IRET" / "the Company"), a Guernsey registered closed-ended investment company, today announces that it has exchanged contracts on the sale of a mixed-use property at 593-599 Fulham Road, London for a total consideration of GBP 4.7 million to an overseas investor.
The property comprises a retail unit at ground and basement levels, with three floors of offices above. The property was sold to an overseas investor at a yield of 6.7% and the price reflects a 4.6% discount to the June 2008 valuation.
The company has also completed the two disposals announced to the market on the 22nd August and 8th September 2008 respectively for a combined consideration of GBP 15 million.
For further information:
The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL
Tel: 01481 745439
Fax: 01481 745085
ING Real Estate Investment Management (UK) Limited
Helen Stott, 020 7767 5648, [email protected]
Financial Dynamics
Dido Laurimore/Laurence Jones, 020 7831 3113
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