Acquisition

RNS Number : 7951I

UK Commercial Property Trust Ltd

18 March 2010

 



UK COMMERCIAL PROPERTY TRUST LIMITED

RIS ANNOUNCEMENT

18 March 2010

ACQUISITION OF 3 SHOPPING CENTRES IN SHREWSBURY

UK Commercial Property Trust Limited is pleased to announce that contracts have been exchanged for the purchase of The Charles Darwin Centre, the Pride Hill Shopping Centre and the Riverside Shopping Centre and Riverside Medical Centre, which are all located in Shrewsbury for an aggregate purchase price of  over £61m  The shopping centres comprise in aggregate 123 retail units with an approximate floor area of 43,131 square metres (464,282 square feet) on a 2.487 hectare site.  The properties are comprised mainly of freehold titles.  The current gross annual rent receivable in respect of the properties is approximately £5.3m per annum.  The purchase price reflects an equivalent yield of 8%.  Completion of the acquisition of these largely freehold properties is conditional upon the satisfaction of certain conditions and is expected to occur in April 2010.

All enquiries:

Robert Boag, Ignis Investment Services Limited
Tel: [phone]

 

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