Gennevilliers Sale Completion

RNS Number : 6589T

Alpha Pyrenees Trust Limited

07 October 2014

 

7 OCTOBER 2014

ALPHA PYRENEES TRUST LIMITED

("ALPHA PYRENEES" OR THE "TRUST")

ALPHA PYRENEES SELLS GENNEVILLIERS OFFICE INVESTMENT IN THE PARIS REGION

Alpha Pyrenees has sold an office investment located at Gennevilliers for €7.4 million which is in line with its book value. The property totals 3,410 square metres and is located on an established business park 15km north of central Paris and is let entirely to Husqvarna France on a 9 year lease with a fixed term of 6 years from April 2014.

The purchaser is FRUCTIREGIONS a SCPI managed by NAMI AEW Europe.

The proceeds from this sale will be held within the cash pooling arrangement established with the Trust's lenders, Barclays Bank PLC, to provide security for its loans and working capital for the Trust's operations.

For further information:

Dick Kingston, Chairman, Alpha Pyrenees Trust Limited                           01481 231100

Paul Cable, Fund Manager, Alpha Real Capital LLP                                  020 7391 4700

For more information on the Trust, please visit www.alphapyreneestrust.com.

 

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