F&C Com Pty Tst Ltd Disposal of Property

 
TIDMFCPT 
 
To:                  RNS 
Date:               23 December 2016 
From:               F&C Commercial Property Trust Limited 
 
 
Disposal of Property 
 
The Board announces that, on 22 December 2016, the Company completed the sale 
of its Freehold interest in 25 Great Pulteney Street, London W1 for GBP54.4 
million, reflecting a net initial yield of 3.95 per cent. The 
property comprises a seven-storey building providing high quality, 
contemporary, Grade A office accommodation and is fully let to four 
tenants. The sale price compares to the valuation as at 30 September 2016 of GBP 
51.2 million. 
 
25 Great Pulteney Street is a property that the Company fully redeveloped, 
completing in 2011. It was subsequently leased at high rents reflecting the 
quality of the building. The most recent re- letting achieved a rent of GBP 
96.50psf. The disposal crystallises substantial value for the Company, reduces 
its exposure to Central London and allows capital to be deployed into other 
opportunities. 
 
 
All enquiries to: 
 
The Company Secretary 
Northern Trust International Fund Administration Services (Guernsey) Limited 
Trafalgar Court 
Les Banques 
St. Peter Port 
Guernsey GY1 3QL 
Tel: [phone] 
Fax: [phone] 
 
Richard Kirby 
BMO REP Asset Management plc 
Tel: [phone] 
 
Graeme Caton 
Winterflood Securities Limited 
Tel: [phone] 
 
 
 
 
 
 
END 
 

(END) Dow Jones Newswires

December 23, 2016 03:49 ET (08:49 GMT)