New Lettings

McKAY ANNOUNCES TRIO OF

INDUSTRIAL LETTINGS

McKay Securities PLC the specialist South East real estate investment trust (REIT), has completed the letting of three units from its industrial portfolio, at a combined annual rent of £121,000.

At the Three Acre Industrial Estate in Folkestone, McKay has let a 6,400 sq ft unit to Maplin Electronics on a 15 year lease for an annual rent of £80,000. At Oakwood Trade Park, Crawley, it has secured a 5 year lease for a 3,035 sq ft unit to a regional plumbing merchant, William Trade Supplies at an annual rent of £29,042. The third unit to be let is at McKay's Lower Cherwell Street Estate in Banbury. A local occupier has agreed a 3 year lease at an annual rent of £12,000 on a 1,938 sq ft unit. 

Simon Perkins, Managing Director of McKay said,

" The key to these lettings was being an accessible landlord with the flexibility to respond to differing tenant requirements with good quality, well presented product. It was encouraging that values and letting incentives were slightly better than our valuer's assumptions."

-ends-

Background Information

McKay Securities PLC is a Real Estate Investment Trust specialising in the development and refurbishment of quality commercial buildings within established and improving markets of central London and South East England. Completed projects are retained and managed for longer term growth within the Company's portfolio, which was valued in March 2010 at in excess of £200 million.

Date: 27 September 2010

For further information contact: