Disposal

RNS Number : 7631E

ING UK Real Estate Income Trust Ltd

01 October 2008

 



ING UK Real Estate Income Trust Limited

1 October 2008

ING UK Real Estate Income Trust announces disposal of mixed-use asset

ING UK Real Estate Income Trust Ltd ('IRET' / 'the Company'), a Guernsey registered closed-ended investment company, today announces that it has exchanged contracts on the sale of a mixed-use property at 593-599 Fulham Road, London for a total consideration of GBP 4.7 million to an overseas investor. 

The property comprises a retail unit at ground and basement levels, with three floors of offices above. The property was sold to an overseas investor at a yield of 6.7% and the price reflects a 4.6% discount to the June 2008 valuation.

The company has also completed the two disposals announced to the market on the 22nd August and 8th September 2008 respectively for a combined consideration of GBP 15 million. 

For further information:

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]

ING Real Estate Investment Management (UK) Limited

Helen Stott, 020 7767 5648, [e-mail]

Financial Dynamics

Dido Laurimore/Laurence Jones, 020 7831 3113

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