13th Jan 2005 08:00
McKay Securities PLC13 January 2005 PRESS RELEASE CHRISTMAS LETTINGS FOR McKAY AT CRAWLEY AND NEWBURY McKay Securities PLC is pleased to announce the completion of three lettings atthe end of December 2004 totalling 20,366 sq ft, with a combined rent of£369,500 pa when fully income producing. At Crawley, ARINC Inc have taken a 10 year lease of two floors of Pegasus 1,Pegasus Place totalling 10,656 sq ft at a rent of £235,000 pa (£22.05 psf), witha 17 month rent free period. In addition, they have taken a separate lease of a2,990 sq ft warehouse on McKay's adjoining Oakwood Trade Park at a rent of£27,000 pa (£9 psf) with a 3 month rent free period. ARINC is a world leader intransportation, communication and systems engineering, and joins Rok PropertySolutions Plc at Pegasus Place, which is a speculative office scheme of threehigh quality office buildings completed by McKay in September 2002 on GatwickRoad, in the heart of the Manor Royal business district. At Newbury, Alan Dick & Co Ltd have taken a 10 year lease (with a break optionat the end of the 5th year) of Albion House, consisting of a mixture ofrefurbished period and open plan offices totalling 6,720 sq ft, at a rent of£107,500 pa (£16 psf) with a 6 month rent free period. Alan Dick & Co Ltd areindustry leaders in providing communication network infrastructure. Simon Perkins, Managing Director of McKay Securities PLC commented that "we aredelighted with these lettings that continue to show that the development andrefurbishment of well presented quality buildings will generate income andcapital growth by attracting top tenants, and it is encouraging to see this takeup by the electronics sector" Agents acting for McKay at Crawley were Maxwell Brown and Knight Frank, and atNewbury were Deal Varney and Vail Williams. Contact: McKay Securities PLCSimon Perkins0118 950 2333 13th January 2005 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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