Portfolio Update

RNS Number : 5249A

Ground Rents Income Fund PLC

23 December 2014

 

23 December 2014

Ground Rents Income Fund plc

("GRIF" or the "Company")

Acquisition of two portfolios for £20.67 million

Ground Rents Income Fund plc, a listed real estate investment trust (REIT) investing in UK ground rents, announces that it has completed the acquisition of a portfolio of fixed uplift ground rents for £1.78 million and exchanged contracts for the acquisition of a further portfolio of index linked ground rents for £18.89 million. These acquisitions complete the investment of the equity raised by GRIF to date. 

The fixed uplift portfolio produces a current total income of £73,500 per annum and the index linked portfolio produces a total current income of £565,400 per annum.  

James Agar, Investment Director of Brooks Macdonald Funds, Investment Adviser to GRIF, commented: "These acquisitions provide shareholders with a significant portfolio of stable, secure, income-producing assets. This large index linked transaction takes the percentage of GRIF's index linked income to over 70%."

Contacts:

Brooks Macdonald Funds Limited Simon Wombwell / James Agar	020 7499 6424
N+1 Singer James Maxwell / Gillian Martin - Corporate Finance Alan Geeves / Sam Greatrex - Sales	020 7496 3000
Appleby Securities (Channel Islands) Limited Kate Storey	01481 755600
Tavistock Jeremy Carey/James Whitmore	020 7920 3150

Website: www.groundrentsincomefund.com

 

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