13th Apr 2007 17:04
ING UK Real Estate Income Trust Ltd13 April 2007 ING UK Real Estate Income Trust Limited 13 April 2007 Sales to reduce the number of smaller assets within the portfolio ING UK Real Estate Income Trust Ltd ("IRET" / "the Company"), a Guernseyregistered closed-ended investment company, today announces the sale of twodetached warehouse units at Trafford Park, Manchester for GBP 5.765 millionreflecting an initial yield of 5.4% to Brixton plc. The property totals GIA5,811 sq m (62,554 sq ft) and has two tenants, Boots and CMP Batteries. Thetotal current income is GBP 328,704 per annum with a further 6 and 8 years lefton the leases. The company has also sold the smallest asset in the portfolio, located atOakwell Park Trading Estate, Birstall, Leeds, for GBP 1.21 million, reflectingan initial yield of 5.93% to a private purchaser. The property is a singlestorey warehouse unit extending to 1,623 sq m (17,467 sq ft) and is locatedapproximately 6 miles south west of Leeds. The sales are in line with existing strategy to reduce the number of smallerassets within the portfolio, which has grown to over GBP 700 million sincelaunch. The Company also announces the acquisition of a single industrial unit at theRiver Way Industrial Estate, Harlow comprising 40,051 sq m (431,101 sq ft). Theproperty is adjacent to the recently acquired River Way Industrial Estate,Harlow which was purchased as part of a portfolio transaction in December. Theunit benefits from frontage to Cambridge Road and is currently vacant and itwill be refurbished prior to a letting campaign. The purchase price was GBP 2.6million. The Company, which has recently announced its results for the period from 15thSeptember 2005 to 31st December 2006, produced a profit of GBP 106.2 million. 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 Dynamics Dido Laurimore/Stephanie Highett, 020 7831 3113 The Company Secretary Northern 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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