Disposal

Grainger Trust PLC 29 January 2004 FOR IMMEDIATE RELEASE 29th January 2003 GRAINGER SELLS £20m COMMERCIAL INVESTMENT PORTFOLIO AS PART OF REFOCUSING DEVELOPMENT AND TRADING ACTIVITIES Grainger Trust plc ('Grainger'), the UK's largest quoted residential property investor, today announces it has completed the sale of a commercial property investment portfolio to a private trust for £19.45m cash as part of its strategy to refocus its development and trading activities. The portfolio comprising six properties, including a 27,000 sq ft Clerkenwell office building and a 25,000 sq ft retail warehouse in Worcester, produced an annual rental income of £1.4m. Grainger Director, Sean Slade commented: 'This sale is in line with our stated strategy of refocusing resources on investment opportunities which offer residential and mixed use development potential. 'With the growth in mixed-use urban regeneration opportunities and the increasing requirement for inclusion of both private and affordable residential elements, we are well placed to leverage our experience and strong skill set within both the residential and commercial sectors.' Southern Property Group represented the purchaser. Ends. Contact: Grainger Trust plc Tel: 020 7795 4700 Rupert Dickinson, Chief Executive Sean Slade, Development Director Baron Phillips Associates Tel: 020 7920 3161 Baron Phillips This information is provided by RNS The company news service from the London Stock Exchange

Companies

Grainger (GRI)
UK 100

Latest directors dealings