8th May 2007 07:02
Artisan (UK) PLC08 May 2007 8 May 2007 Artisan (UK) plc Major pre-let Artisan (UK) plc ("Artisan" or "the Group"), the residential house builder andcommercial business park developer announces progress in developing its propertyactivities with the pre-let of a unit at its Colmworth Business Park. The Board has announced separately today its strategy of retaining selectedproperties from its development portfolio as investment properties and thefinancial implications arising. Artisan's Chief Executive, Chris Musselle, commented: "Artisan is very pleasedto announce that a major forward let of a 36,600 ft2 industrial unit has beensecured. The occupier is Black Teknigas Limited a subsidiary of WattsIndustries Europe BV, both companies to be joint lessees." The agreement to lease is in respect of a bespoke unit at Colmworth BusinessPark, St Neots, due for build completion early 2008. There is provision for thedevelopment of an extension to this unit of 18,500 ft2 at the tenant's optionover the next 5 years. The Board are satisfied that this opportunity fulfilsour criteria for retention as an investment property unit and this unit will beretained by the Group as its first investment property. For Artisan, thesuccess in securing this agreement effectively concludes the Colmworth BusinessPark, with office development continuing at the adjacent Fenice Court. Director of Black Teknigas, Dave Martin said: "Following our company'sacquisition by Watts Industries last year, growth and future prospects areexciting and employment is increasing. Black Teknigas is delighted thatagreement has been reached with Artisan to build a new, bespoke factory for ourrapidly expanding business. St Neots has proved an excellent area for employmentand recruitment and the company has built up a loyal and stable workforce overthe last eighteen years. Artisan was chosen for their excellent, well developedsite at Colmworth Business Park and their strong regional reputation." Artisan (UK) plcChris Musselle Chief Executive 01480 436666 [email protected] Brewin Dolphin Securities Limited Nominated advisers 0121 236 7000Ifor Williams Bankside Consultants Financial PR advisers 020 7367 8888Simon Rothschild 07703 167065Louise Mason Company website: www.artisan-plc.co.uk www.artisandevelopments.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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