Aisi pre-lets Terminal Brovar

RNS Number : 3144Y

Aisi Realty Public Limited

04 July 2008

 



4 July 2008

Aisi Realty Public Limited

('Aisi' or 'the Company')

Aisi pre-lets Terminal Brovary development on 10-year lease

Aisi, a property investment company focusing on development projects and related investments in Ukraine, is pleased to announce that it has signed an agreement with UVK, a leading Ukrainian logistics operator, for the pre-letting of Brovary Logistics Park, the Company’s most advanced commercial development.

 

The agreement covers a 10-year lease term commencing January 2009 for the entire development comprising approximately 49,180 sq. m of warehousing space at rental values that are in line with current market rates. DTZ Kiev B.V. was the exclusive letting agent for Aisi on this agreement.

 

The development attracted considerable local and international interest, reflecting strong growth in demand for commercial space due to the country’s rapid economic growth and a lack of high quality developments.

 

Terminal Brovary, located approximately 27 kilometres from Kiev, will be one of Ukraine’s first Class ‘A’ logistics warehouses and is the first of five major commercial, retail and residential projects undertaken by the Company in Ukraine.

 

Aisi has a 100% shareholding in “Terminal Brovary”. Construction work at the site began in November 2007 and is on schedule for sole occupancy by UVK in or before January 2009.    

 

Beso Sikharulidze, a director of Aisi, said: “We are delighted to fully let our flagship commercial development, Brovary Logistics Park, to UVK, a leading logistics company in Ukraine, on attractive terms. This is a key milestone in the Company’s long-term development and will generate substantial value for our shareholders as the Ukrainian property sector benefits from strong long-term growth drivers.”

Enquiries 

Aisi Realty:
Beso Sikharulidze	0038 044 459 3000
Corfin Communications:
Neil Thapar, William Cullum	020 7977 0020
Libertas Capital:
Aamir Quraishi, Andrew Hardy	020 7569 9650

 

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