New Letting at Terminal Brovary Logistics Park

RNS Number : 7411I

Aisi Realty Public Limited

30 July 2012

 



30 July 2012

Aisi Realty Public Limited

(the "Company" or "Secure Property Development and Investment Limited")

SECURE PROPERTY SIGNS 55,238 SQ FT LETTING TO AMWAY AT TERMINAL BROVARY LOGISTICS PARK, KIEV

Secure Property Development & Investment Limited, formerly Aisi Realty Public Limited*, a South Eastern European focused property and investment company, today announces that it has signed a new 3 year lease agreement for 55,238 sq ft (5,132 sqm) to Amway at its main operating asset, Terminal Brovary Logistics Park ("the Park"), in Kiev, Ukraine. The letting increases occupancy at the Park to over 83% compared with 20% in August 2011, when a new internal team took over the management of the Company, and brings the total annualised income from the property to more than US$3 million.

Amway is a one of the world's largest direct-selling companies, supplying consumer products, primarily in the nutrition, beauty and home care markets. It operates in more than 80 countries and territories worldwide through more than three million distributors, 500,000 of which are located in Europe. Amway has successfully been doing business in Europe since 1973 and is currently active in 29 European countries, with more than 1,500 employees across the region.

Situated in the Ukrainian capital of Kiev, Terminal Brovary comprises circa 525,000 sq ft of Class A warehouse and associated office space and is well-located, adjacent to the junction of the main Kyiv - Moscow highway and the Borispil road.

The letting to Amway follows the circa 150,000 sq ft of lettings at Terminal Brovary announced in June 2012, and is in line with the management team's plans to maximise income from the Park. Since the introduction of the new internal management in August 2011, occupancy at the Park has increased more than fourfold and the Park is now cash flow positive.

The lettings also build on a number of successful initiatives that have been implemented as part of a wider strategy to turn the business around, improve the Company's financial strength, and reposition it for future growth.

Lambros Anagnostopoulos, Chief Executive Officer of Secure Property, commented: 

"The signing of this lease with Amway is further evidence of the management team's ability to secure significant lettings to high quality tenants, in order to increase income and generate value from the Company's assets. We have made excellent progress with lettings at Terminal Brovary, and will continue to focus on reducing vacancy at the property.

"The lettings that we have achieved to date represent strong delivery of our plans to increase capital values at the centre, as we work hard to execute our strategy to enhance the Company's performance and future prospects."

* The name change is subject to shareholder approval at the next Annual General Meeting

- Ends -

Enquiries:
Secure Property Development & Investment Ltd (formerly Aisi Realty Public Ltd)		+ 380 44 459 3000
Lambros Anagnostopoulos
Liberum Capital Limited (NOMAD and Broker)		[phone]
Chris Bowman / Richard Bootle
FTI Consulting		[phone]
Richard Sunderland / Will Henderson / Toyah Simpson

Notes to Editors

About Secure Property Development and Investment Limited

Secure Property Development and Investment Limited ("SPDI") is a South Eastern European focused property company incorporated in Cyprus. The Company's portfolio comprises the Terminal Brovary logistics park in Kiev (Gross Leasable Area of circa 50,000 sqm), and four development projects at different stages of progression, which have a combined value of €33 m.

Established in 2005, SPDI employs a team of 15 experienced professionals operating across three countries. In August 2011, following a transaction with Narrowpeak Consultants Ltd a new internalised management team was introduced to settle the Company's liabilities and create and execute a strategy for growth. SPDI's shares are publicly traded on the AIM market of the London Stock Exchange (AIM:AISI).

About South East Continent Unique Real Estate Management (SECURE)

South East Continent Unique Real Estate (SECURE) Management ("SECURE") is a private equity platform that manages property investment and development vehicles in South East Europe. SECURE Investments I and II, have invested in residential and mixed-use developments totalling circa 300,000 sqm in Bulgaria, Romania and Serbia. SECURE is domiciled in the European Union with offices in Cyprus and Romania and has an active presence in Bulgaria and Ukraine.

With €250m worth of Assets Under Management (AUM) SECURE employs a team of 16 full time professionals, working across five countries, with a wealth of international experience and a strong track record in the real estate development, investment and finance sectors. SECURE was established in 2007 and, through a conservative and risk management focused approach, has managed to steer its clients through the difficult global economic crisis whilst continuing to add value, having even achieved an increase in the Net Asset Value for its Investment Vehicles since inception.

 

END

 

 

MSCLLFSEDTIDFIF