Acquisition

    RNS Number : 9525W
  Dawnay, Day Carpathian PLC
  18 June 2008
   



                                                      Dawnay, Day Carpathian PLC
(*DDC* or the Company)
 
Second phase acquisition of 6 retail units within upmarket residential development in Warsaw, Poland
 
Dawnay, Day Carpathian is pleased to announce the completion of the second phase of the acquisition of 31 retail units located within the
Marina Mokotresidential development in Warsaw, Poland (*Marina Mokot). The second phase purchase comprises six properties for a total
purchase price of EUR2.80m. The transaction was financed with EUR740,000 of equity and the balance from a bank debt facility. The bank loan
represents 73% of the transaction costs and has a 3 year term at a blended rate of 6.39% per annum.
 
The Company now owns 100% of the retail units and associated parking within the Marina Mokotow development.
 
Marina Mokotis an upmarket residential development of almost forty apartment buildings, and approximately sixty detached and semi-detached
homes situated on 310,000 sq m of land. The development is well-located, proximate to both Warsaw*s international airport, and the city
centre. The Mokotdistrict is well served by public transportation and considered a major residential area as well as a non-central office
location.
 
As previously announced, the premises are let at a minimum of five years to a variety of tenants focusing on the convenience goods and
services segment serving the local residents. The majority of shops are each between 40 and 70 sq m in size and 32 parking spaces are
included as part of the purchase. 
 
Commenting on the acquisition, Rupert Cottrell, Chairman of Dawnay, Day Carpathian PLC said *The Company now has complete ownership of the
retail units within the Marina Mokotdevelopment which will enable us to maximise returns within the development and to strategically
position the site as part of our premier retail portfolio.*
 
 
 
 
 
Enquiries:
 
    
 Dawnay, Day Carpathian PLC       Paul RogersBalazs Csepregi   020 7834 8060  
 Cardew Group                 Tim RobertsonCatherine Maitland    020 7930 0777
 Numis Securities Limited           Anthony RichardsonCharles    020 7260 1000
                                        FarquharNick Westlake
 
 
Notes to Editors
 
DDC listed on the AIM market in July 2005 and raised new funds to create a geared EUR1 billion portfolio of retail properties. To date, the
Company has purchased four shopping centres in Poland, the Antana Warehouse Park in Hungary, the Varyada Shopping Centre in the Czech
Republic, the Promenada Shopping and Business Centre in Poland, the Plaza Portfolio of four shopping centres in Hungary, Macro Mall shopping
centre in Brasov, Romania, Babilonas shopping centre in Panevezys, Lithuania, four retail developments at Cluj, Arad, Baia Mare and Satu
Mare in Romania, the Mid portfolio across Hungary and the Czech Republic and Marina Mokotow in Poland.
           

This information is provided by RNS
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