Portfolio Update

RNS Number : 3436F

F&C Commercial Property Trust Ld

11 January 2010

 

To:         RNS

Date:    11 January 2010 

From:    F&C Commercial Property Trust Limited

PORTFOLIO UPDATE

F&C Commercial Property Trust Limited (the "Company") announces that its direct property portfolio valuation as at 31 December 2009 was £732,950,000. On a like-for-like basis net of capital expenditure and excluding the effect of gearing, the underlying value of the direct property portfolio increased by 5.5% over the two month period from 31 October 2009, being the date of the last net asset value announced by the Company.  For the quarter ended 31 December 2009, on a like-for-like basis net of capital expenditure and excluding the effect of gearing, the underlying value of the direct property portfolio increased by 10.2%.

The Directors expect that the unaudited net asset value per share as at 31 December 2009, which will include the valuation of the Company's indirect holdings, will be published later in January 2010.

The Company also announces that, on 24 December 2009, it exchanged contracts to sell its property at 27/28 Commercial Street, Leeds, for £8.8 million, which reflects a net initial yield of 5.74%. This compares to a valuation of £8.075 million as at 31 October 2009. It is expected that the contract will complete on 13 January 2010.

All enquiries:

The Company Secretary

Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court

Les Banques

St Peter Port
Guernsey

GY1 3QL

Tel:  [phone]

Fax: [phone]

 

END

 

 

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