New Letting at Terminal Brovary Logistics Park

RNS Number : 9800R

Aisi Realty Public Limited

26 November 2012

 



26 November 2012

Aisi Realty Public Limited

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

SECURE PROPERTY SIGNS 52,835 SQ FT LETTING TO BILLA 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 a 52,835 sq ft letting on a five year lease to supermarket operator BILLA-Ukraine Enterprise ("BILLA") at its main operating asset, Terminal Brovary Logistics Park ("the Park") in Kiev, Ukraine, bringing occupancy at the Park to ~90%. BILLA was previously present at the Park, occupying space sub-let by DSV; following the termination of DSV's lease at the park, BILLA has now taken all of the 35,765 sq ft that was previously let to DSV and an additional 17,070 sq ft.

BILLA is a subsidiary of REWE Group, one of the leading food retail groups in Europe, which operates in 16 countries and generates turnover of c. €51 billion per annum. BILLA has been active in the Ukraine since 2000 and now operates 22 supermarkets in the country, employing 1,500 people, and represents a very strong tenant for the Park.

This is the latest in a series of lettings, and further demonstrates the Company's success in implementing its 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 from a low of 20% to its current level and the property has become cash flow positive. The letting also builds 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:

"The letting to BILLA follows a series of successful deals in recent months that have helped us reach the level of almost full occupancy at Terminal Brovary, as we work to maximize income from the property. BILLA is a well-established and growing business, particularly in Eastern Europe, and represents an excellent addition to our roster of tenants at the Park, and its decision to expand its space is a strong endorsement of Terminal Brovary."

x The name change is subject to shareholder approval at the Annual General Meeting       

- 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 / Will Henderson/ Daniel O'Donnell

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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