Acquisition

RNS Number:9802T
Halladale Group PLC
08 January 2004



       
                  Halladale announces #6.0m retail acquisition

Halladale Group plc ("Halladale"), the UK property trading and development
company, announces that it has acquired the long leasehold interest in the
Myrtle Walk Shopping Precinct in Bingley, for #6.0 million.

This town centre property offers Halladale significant asset management and
redevelopment opportunities. Anchored by Safeways, the precinct currently totals
50,000 sq ft, with other key tenants including Boots, Greggs and NatWest Bank.
Plans are due to be submitted to the local council for a full redevelopment of
the retail offering bringing the scheme up to 65,000 sq ft in total. Facilities
also include the local public library.

Chase & Partners acted for Halladale and Donaldsons acted on behalf of the
purchaser, Fordgate Property.

David Lockhart, Chief Executive of Halladale commented:

"This is a very exciting development for Halladale and for Bingley. We will
utilise our active asset management and redevelopment skills to add value and
enhance the urban environment. Working closely with the local Council, Halladale
will regenerate Bingley's shopping facilities and attract new occupiers to the
town centre."

                                    - ends -

For further information please contact:

David Lockhart, Chief Executive, Halladale Group plc - 0141 204 4633
David Rydell/Charles Reynolds, 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.




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

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