Acquisition

RNS Number : 5250H

Secure Property Dev & Inv PLC

16 March 2015

 



16 March 2015

Secure Property Development and Investment Limited PLC (SPDI.L)

("Secure" or the "Company")

SECURE PROPERTY COMPLETES THE ACQUISITION OF A GLA17,756 SQM LOGISTICS PARK IN ATHENS

SECURE Property Development & Investment PLC (AIM: SPDI, www.secure-property.eu), today announces that, further to its statement of 11 August 2014, it has completed the acquisition of an income producing logistics park (the "Park"), located in the West Attica Industrial Area of Athens, Greece.

The Park comprises a fully let 17,756 leasable sqm warehouse property which has a photovoltaic alternative energy production facility installed on its roof.  70% of the space is let to the multinational transportation and logistics company Kuehne + Nagel, with the remaining 30% let to GE Dimitriou SA, a Greek company which trades electrical appliances.

The Park produces a net operating income ("NOI") of approximately €1.5 million per annum, of which a proportion comes from selling the electricity produced by the photovoltaic facility to the Greek Electric Grid. 

The acquisition is the Company's first in Greece and is in line with SECURE's stated strategy of growing and diversifying regionally its property portfolio.

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SECURE PROPERTY Development & Investment plc              [phone]

Lambros Anagnostopoulos                                                                

Constantinos Bitros

SP Angel Corporate Finance LLP                                                 [phone]

Tercel Moore                                                                                      

Jeff Keating

FTI Consulting                                                                                 [phone]

Richard Sunderland

 

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