Acquisition

Wynnstay Properties PLC 14 October 2003 Wynnstay Properties PLC 14 October 2003 Investment Property Acquisition Wynnstay Properties PLC announces that on 13 October 2003, it exchanged contracts for the purchase of Oakcroft Business Centre, Oakcroft Road, Chessington, Surrey for a consideration of £1,900,000 which will be funded from the Company's existing bank facilities. Completion is scheduled for 10 November 2003. This freehold property is located three miles south of Kingston upon Thames, with convenient road connections to the A3 and the M25. It comprises three 2 storey units, totaling 14,989 sq.ft. including open plan office accommodation, surrounding a secure central courtyard car parking area. The property is fully let on leases expiring between March 2011 and March 2013, currently producing an income of £150,568 per annum, equivalent to a yield of approximately 7.5% per annum, after taking account of acquisition costs. Commenting on the transaction, Philip Collins, Chairman, said 'We are very pleased to have been successful in acquiring this modern, attractive and well-located property which represents a further important step towards our stated objective of focusing Wynnstay's portfolio in central southern England.' End This information is provided by RNS The company news service from the London Stock Exchange
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