Portfolio Update

RNS Number : 5034Y

Alpha Tiger Property Trust Limited

23 December 2010

 



23 December 2010

ALPHA TIGER PROPERTY TRUST LIMITED ("ALPHA TIGER" OR THE "COMPANY")

LETTING ACHIEVED AT H2O, MADRID TO SUPERMARKET OPERATOR, MERCADONA

Alpha Tiger announces that it has signed a lease to supermarket operator Mercadona at the Company's H2O shopping centre investment in Madrid.

Mercadona is one of Spain's leading supermarket operators with a presence in 46 provinces with 1,302 supermarkets that represent an approximate 13% share of Spain's total food retail space, serving more than 4.3 million households every day.

The 3,111 square metre supermarket unit, which was vacant at the time of Alpha Tiger's investment in H2O, has been let on a 30 year lease with a minimum 10 year term.

Opening is anticipated during 2011, subject to standard local authority licences and consents.

Brad Bauman, Joint Fund Manager for Alpha Tiger commented, "We are delighted to have signed Mercadona at H2O, their strong brand presence in Spain and excellent operating philosophy make them a first-rate addition to H2O and indicates the continued success of Alpha Tiger's active asset management initiatives to enhance the value of its investments".

For further information please contact:

Alpha Tiger Property Trust Limited

David Jeffreys, Chairman, Alpha Tiger                              [phone]

Brad Bauman, Joint Fund Manager, Alpha Tiger                [phone]

Panmure Gordon, Nominated Adviser to the Company                                                                                                                                                                             

Richard Gray / Andrew Potts                                           [phone]

Notes to editors:

About Alpha Tiger Property Trust

Further information is available at www.alphatigerpropertytrust.com

 

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