Re Completed Transactions

RNS Number:2549Q
Halladale Group PLC
29 September 2003


29 September 2003


            Halladale announces transactions totalling #7.45 million            

Halladale Group plc ("Halladale"), the UK property trading and development
company, announces that it has completed transactions in the regional shopping
centre sector worth #7.45 million.

Halladale has purchased the Market Precinct shopping centre in Farnworth,
Bolton, from Oceana Properties Ltd for #4.9 million. Comprising 45,000 sq ft,
the centrally located shopping centre includes 35 units within the
pedestrianised Brackley Street and market precinct. The annual rental income is
#410,000, reflecting a net initial yield of approx. 7.5%. Halladale will look to
improve the local retail offering by upgrading, extending and partially
redeveloping the site and attracting new tenants.

Halladale has also sold the Boscomoor Shopping Centre in Penkridge,
Wolverhampton for #2.55 million. Comprising a supermarket store and seven
adjoining retail units, Boscomoor has been sold to one of the tenants at a price
that reflects a net initial yield of 7.52%. The supermarket is secured on a long
lease to Sommerfield until 2016 at an annual rent of #102,500. Totalling 27,800
sq ft, the property was purchased by Halladale as part of a portfolio of two
shopping centres in February 2003, the other being 2-18 Princes Street,
Stafford.

Cahse & Partners and Dalgliesh advised Halladale, regarding Bolton and Penkridge
respectively, and Kenneth Peters acted for Oceana Properties Ltd.

David Lockhart, Chief Executive of Halladale commented:

"These transactions highlight Halladale's continuing activity and success within
the secondary shopping centre market. We have taken advantage of the strong
retail market to dispose of Boscomoor and will substantially improve the Bolton
shopping centre to enhance the local retail offering. Our strategy of
identifying properties that deliver attractive yields and offer interesting
asset management opportunities is delivering real returns for shareholders."

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For further information please contact:


David Lockhart, Chief Executive, Halladale Group plc      0141 204 4633
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.




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

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