Acquisition

Insight Foundation Property Tst Ltd
08 November 2005

8th November 2005


                   Insight Foundation Property Trust Limited

      Acquisition of National Magazine House, Broadwick Street, London, W1


Insight Foundation Property Trust Limited ('the Company') announces that it has
completed on the acquisition of National Magazine House, 72 Broadwick Street, W1
from Shaftesbury PLC for £45.05 million reflecting a net initial yield of 5.29%.
The property is the London headquarters of publisher The National Magazine
Company whose titles include Harpers & Queen, Cosmopolitan and Esquire.


The National Magazine Company Limited has a 15 year lease expiring in September
2018 on this 55,000 sq ft (5,110 sq m) office building at an annual rent of
£2.27 million, equating to £40 per sq ft (£430.56 per sq m).  The property also
comprises 11 flats totalling 11,000 sq ft (118 sq m) producing over £250,000 of
rental income per annum.  There is a rent review on the office space in 2008
that should be well timed to benefit from West End rental growth.


The transaction follows the recent £100 million C Share issue which was
undertaken by the Company to enable it to re-weight its investment portfolio
towards the Central London and South East of England office markets.  Insight
Investment believes that increasing the Company's weightings towards these
sectors of the property market will improve the anticipated returns for
Shareholders.


Commenting on the transaction, Duncan Owen, Managing Director, Property, at
Insight Investment, said:


'We are very pleased to have concluded our third major Central London
acquisition this year realising our strategic ambition of increasing the
Company's weighting to this area of the market.


'National Magazine House offers the Company exposure to a well located asset
with a secure covenant in an improving area of Central London where there is a
shortage of good quality buildings offering large clear floorplates.'


                                     -ENDS-

Enquiries:

Duncan Owen (Insight Investment Management)             Tel: [phone]

Paul Smith / Jeff Lanyon (RBSI)                         Tel: [phone]

Stephanie Highett / Dido Laurimore (Financial Dynamics) Tel: [phone]


                      This information is provided by RNS
            The company news service from the London Stock Exchange