20th Sep 2007 14:04
ING UK Real Estate Income Trust Ltd20 September 2007 ING UK Real Estate Income Trust Limited ('IRET') 20 September 2007 ING UK Real Estate Income Trust continues successful sales programme of smallerassets ING UK Real Estate Income Trust Ltd ("IRET" / "the Company"), a Guernseyregistered closed-ended investment company, has completed on the sale ofRiverside Business Centre, North Esplanade West, Aberdeen for GBP 2.54 millionreflecting a net initial yield of 6.57%. The multi-let property comprises a two storey office pavilion and two blocks ofindustrial units totalling 16,350 sq ft (1,519 sq m). It is let to 16 tenantsall of which are on leases of three years, producing an income of GBP 166,820per annum. IRET acquired the property for GBP 1.7 million in 2005 and has beensold following a programme of asset management to re-gear all the occupationalleases. Commenting, Michael Morris, Fund Manager, said: "The sale of Aberdeen represents our fourth disposal this year and is consistentwith our strategy to reduce the number of smaller assets within the fund wherewe have completed our programme of active asset management." For further information: All Enquiries 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 Selina Sasse, 020 7767 5756, [email protected] Helen Stott, 020 7767 5648 [email protected] Financial Dynamics Dido Laurimore/Stephanie Highett, 020 7831 3113 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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