Lettings at Terminal Brovary Logistics Park, Kiev

RNS Number : 2562G

Aisi Realty Public Limited

27 June 2012

 



27 June 2012

Aisi Realty Public Limited

("the Company" or "Secure Property Development and Investment Limited")

SECURE PROPERTY SIGNS C. 150,000 SQ FT OF LETTINGS AT TERMINAL BROVARY LOGISTICS PARK, KIEV

Secure Property Development & Investment Limited, formerly Aisi Realty Public Limited, a South Eastern European focused property and investment company, today announces that it has secured circa 150,000 sq ft of lettings at its main operating asset, Terminal Brovary Logistics Park ("the Park"), in Kiev, Ukraine. The lettings bring occupancy to over 70% compared with 20% in August 2011, when a new internal team took over the management of the Company.

Sumatra Ltd, a leading retailer of drugs, perfumes and cosmetics, and affiliate of Sigma Bleyzer Inc., a US based Private Equity fund, has signed circa 105,000 sq ft of space on a six year lease. Meanwhile, two existing tenants, international logistics contractors Rhenus Revival and FM Logistic, have taken a total of circa 45,000 sq ft of additional space at the Park.

The lettings are in line with the Company's plans to improve capital returns at Terminal Brovary. Since the introduction of the new internal management in August 2011, occupancy at the Park has increased by 250% and the Park is now cash flow positive. The lettings also build on a number of successful initiatives which have been implemented as part of a wider strategy to turn the business around, improve the Company's financial strength, and reposition it for future growth.

Situated in the Ukrainian capital of Kiev, Terminal Brovary comprises circa 525,000 sq ft of Class A warehouse and associated office space and is well-located, adjacent to the junction of the main Kyiv - Moscow highway and the Borispil road.

Lambros Anagnostopoulos, Chief Executive Officer of Secure Property, commented: 

"These lettings mark a significant step in our plans to improve capital returns at Terminal Brovary. In addition, they clearly demonstrate the progress we are making in our strategy to turn the Company around, which is underpinned by an initial focus on increasing income and creating value from the Company's existing assets. We are pleased to have secured Sumatra Ltd as a tenant and believe that the decision by two of our existing occupiers to expand their presence at the Park, is testament to both the excellent credentials of Terminal Brovary and of our own asset management skills."

- Ends -

Enquiries:
Secure Property Development & Investment Ltd (formerly Aisi Realty Public Ltd)		+ 380 44 459 3000
Lambros Anagnostopoulos
Liberum Capital Limited (NOMAD and Broker)		[phone]
Chris Bowman / Richard Bootle
FTI Consulting		[phone]
Richard Sunderland / Toyah Simpson

Notes to Editors

About Secure Property Development and Investment Limited

Secure Property Development and Investment Limited ("SPDI") is a South Eastern European focused property company incorporated in Cyprus. The Company's portfolio comprises the Terminal Brovary logistics park in Kiev (Gross Leasable Area of circa 50,000 sqm), and four development projects at different stages of progression, which have a combined value of €33 m.

Established in 2005, SPDI employs a team of 15 experienced professionals operating across three countries. In August 2011, following a transaction with Narrowpeak Consultants Ltd a new internalised management team was introduced to settle the Company's liabilities and create and execute a strategy for growth. SPDI's shares are publicly traded on the AIM market of the London Stock Exchange (AIM:AISI).

About South East Continent Unique Real Estate Management (SECURE)

South East Continent Unique Real Estate (SECURE) Management ("SECURE") is a private equity platform that manages property investment and development vehicles in South East Europe. SECURE Investments I and II, have invested in residential and mixed-use developments totalling circa 300,000 sqm in Bulgaria, Romania and Serbia. SECURE is domiciled in the European Union with offices in Cyprus and Romania and has an active presence in Bulgaria and Ukraine.

With €250m worth of Assets Under Management (AUM) SECURE employs a team of 16 full time professionals, working across five countries, with a wealth of international experience and a strong track record in the real estate development, investment and finance sectors. SECURE was established in 2007 and, through a conservative and risk management focused approach, has managed to steer its clients through the difficult global economic crisis whilst continuing to add value, having even achieved an increase in the Net Asset Value for its Investment Vehicles since inception.

 

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