Safeland PLC
22 January 2007
Safeland plc
Further Fund Acquisition
Safeland plc ('Safeland') announces that further to the announcements on 8 and
11 January Safeland Active Management Unit Trust ('the Fund'), the Jersey unit
trust of which it is UK property manager, has completed the acquisition of The
Watford Business Centre, Greenhill Crescent, Watford for a total consideration
of £15.7m. The acquisition is funded by £5.75m cash from existing resources with
the remainder through debt finance with Barclays Capital.
The property consists of a 115,000 sq ft business centre complex, comprising a
number of smaller office suites and light industrial or workspace units.
The property currently produces a gross income of c£1.8m per annum with a
current occupancy of 86%.
Safeland Active Management will revitalise and improve the existing centre and
run the property as flexible managed workspace units under their new 'Flexspace'
brand, and this acquisition brings the total of properties under management to
four.
For further information please contact:
Safeland plc Parkgreen Communications Ltd
Larry Lipman, Managing Director Paul McManus
Tel: 020 8815 1600 Tel: 020 7851 7480
Mob: 07980 541 893
www.safeland.co.uk paul.mcmanus@parkgreenmedia.com
This information is provided by RNS
The company news service from the London Stock Exchange
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