Letting of Properties

RNS Number : 0039H

Alpha Pyrenees Trust Limited

11 February 2010

 



11 February 2010

ALPHA PYRENEES TRUST LIMITED
("ALPHA PYRENEES" OR THE "TRUST")

ALPHA PYRENEES LETS FURTHER SPACE AT GOUSSAINVILLE AND AUBERVILLIERS PROPERTIES

The Trust has let approximately 8,760 square metres of warehouse and office space at its Goussainville property to existing tenant, Maintenance Partner Solutions France ("MPS"), on a new 9 year term with a fixed term of 6 years from 8 February 2010 at a market rent with upwards only rent indexation pegged to the INSEE Cost of Construction Index.

MPS previously occupied 3,325 square metres on a 3/6/9 year lease expiring on 14 February 2010.

The new space comprises 6,340 square metres of warehouse space and 2,420 square metres of office space. The letting of the additional vacant space results in MPS occupying 43% of the property.

MPS was previously a subsidiary of international courier company, UPS.

This letting follows the announcement of a new lease on a 615 square metre warehouse unit at Goussainville that was signed at the property with Business Computer System who took a 3/6/9 year lease from 1 December 2009.

The Trust has also let approximately 1,125 square metres of vacant office space at its Aubervilliers property to Klöckner Information Services ("KIS") on a 2 year lease from 22 February 2010. KIS, was recently created by the consolidation of the I.T. departments of the Klöckner Group.

Existing tenant, Klöckner Distribution Industrielle("KDI") occupy 5,535 square metres at Aubervilliers and the letting of the additional space results in KDI/KIS occupying 76% of the property with other tenants at the property being New Steel and d'Haussy.

Contact:

Paul Cable
Fund Manager, Alpha Real Capital    
020 7268 0300

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

For more information on the Trust's Investment Manager please visit www.alpharealcapital.com.

 

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