31st Jul 2008 16:17
31 July 2008
Dawnay, Day Treveria PLC ("Treveria" or the "Company")
STATEMENT RE HERTIE
Dawnay, Day Treveria PLC notes the announcement today by Hertie GmbH ("Hertie") that it is entering insolvency proceedings.
Out of a total portfolio of 450 assets, Treveria owns five properties that are wholly or partly let to Hertie. Together, these have an annualised rent roll of €3.6 million, representing 2.2% of Treveria's total annualised rent roll. A number of options, including an option where the tenant may continue trading and paying rent, are being actively explored.
For the avoidance of doubt, Treveria does not own any stores let to Hertie other than the five referred to above.
Enquiries:
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Financial Dynamics
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Tel: +44 (0)20 7831 3113
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Stephanie Highett / Richard Sunderland
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