Taliesin Prop Fd Ltd

Property Portfolio Valuation and Estimated NAV

RNS Number : 1579U
Taliesin Property Fund Limited
13 January 2017

For immediate release


Taliesin Property Fund Limited

("Taliesin" or the "Company")


Property Portfolio Valuation and Estimated Net Asset Value at 31 December 2016


The Board of Taliesin Property Fund Limited announces that it has been advised by the Company's property valuers, Jones Lang LaSalle, that the Company's property portfolio has continued to rise in value over the six months to 31 December 2016.


The preliminary valuation by Jones Lang LaSalle reported that the portfolio increased in value from €289.2 million as at 30 June 2016 to €318.0 million as at 31 December 2016. On a like-for-like basis, taking into account property sales in the second half of 2016 of €2.9 million and capital investments in the portfolio, this represents an increase of approximately 10 per cent. for the six month period.


This increase in value is a result of general market trends including a continued rise in rents and better reflects the privatisation potential of the portfolio given the price per square metre achieved so far for privatised units. The new valuation represents a per square metre value of €2,700 for the Taliesin portfolio.


Based on the Company's unaudited management accounts as at 31 December 2016 and the year end property portfolio valuation referred to above, the Adjusted NAV per share of the Company is estimated to be in excess of €37 per share as at 31 December 2016. This compares with an Adjusted NAV per share of €33.15 (reflecting the €2 per share return of capital during the second half of 2016) as at 30 June 2016.


Taliesin expects to announce its annual results for the year ended 31 December 2016 towards the end of April.


For further information, please contact:


Taliesin Property Fund Limited

Mark Smith, Director                                                                                 01534 700 000


Stockdale Securities Limited

Alastair Moreton                                                                                         020 7601 6118

This information is provided by RNS
The company news service from the London Stock Exchange