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ProShares Hedge Replication | AMEX:HDG | AMEX | Exchange Traded Fund |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.07 | 0.14% | 49.45 | 49.45 | 49.45 | 49.45 | 8 | 15:35:21 |
RNS Number:0031Q Halladale Group PLC 22 September 2003 Halladale acquires prime Swindon office for #3.175 million Halladale Group plc ("Halladale"), the UK property trading and development company, announces that the Halladale Opportunity Fund ("Opportunity Fund") has acquired Signal Point, a centrally located office building in Swindon, for #3.175 million. The Opportunity Fund is a 50/50 joint venture between Halladale and Kodak Pension Plan. The Fund, set up in February 2003 when it also announced the purchase of a #17.2m retail warehouse in Stockton-on-Tees, seeks to invest an initial #50 million in commercial property. Kodak Pension Plan's interest is managed by LaSalle Investment Management. Comprising 82,000 sq ft over 12 floors above the town's railway station, Signal Point is fully let to the vendor, Allied Dunbar Assurance plc, until 2009 with an option to determine in 2007. The annual rent is #520,000 reflecting a net initial yield of 16 per cent. Halladale will manage Signal Point on behalf of the Opportunity Fund. Singer Vielle advised Halladale and Jones Lang LaSalle acted for the vendor. Ken Lindsay, Property Director of Halladale, commented: "This extremely well-let office building is attractive to the Opportunity Fund as it offers a number of asset management opportunities and a very attractive initial yield. We are beginning to identify opportunities in the South East office market where values have recently softened." Justin Brown, Associate Director of LaSalle Investment Management, commented: "The purchase of Signal Point allows the Opportunity Fund to access relatively high levels of income during a period of relatively little rental growth. We believe that over the next few years the opportunities identified will help this asset to be a strong performer." - ends - For further information please contact: Ken Lindsay, Property Director, Halladale Group plc 0141 204 4633 Justin Brown, LaSalle Investment Management 020 7852 4484 David Rydell/Charlotte Kirkham, Bell Pottinger Financial 020 7861 3232 Stuart Lane, Collins Stewart Ltd 020 7523 8310 Halladale *Halladale is a property trading and development company that creates value for shareholders through active and entrepreneurial management and risk controlled development of commercial property assets throughout the UK. *The value of its portfolio at 30 April 2003, including the aggregate value of joint ventures, was #145 million, a year on year increase of 25 per cent. *In the year ended 30 April 2003, profit before tax increased by 47 per cent to #1,691,000 year on year and the total dividend increased by 28 per cent to 1.6p per ordinary share. *In the same period, the total value of acquisitions and disposals increased by 46 per cent to #120 million. *Halladale was founded in 1991 by its Chief Executive, David Lockhart, and has offices in Glasgow and London. Halladale's shares were admitted to the AIM in April 2001. *For more information on Halladale please visit http:// www.halladale.co.uk. LaSalle Investment Management LaSalle Investment Management is a global property investment manager with EUR 25 billion of assets under management in Europe, the Americas and Asia Pacific. It provides a fully integrated investment management service for its predominantly pension fund clients. It offers three broad but inter-related services; segregated accounts of direct property, pooled funds of direct property targeting specific opportunities, segregated accounts of quoted property shares and/or REITs. This information is provided by RNS The company news service from the London Stock Exchange END ACQLTMPTMMATMTJ
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