F&C UK Real Est. Inv. Property Purchase

 
TIDMFCRE 
 
To:                     RNS 
From:                   F&C UK Real Estate Investments Limited 
LEI Number:             2138001XRCB89W6XTR23 
Date:                   12 October 2017 
 
F&C UK Real Estate Investments Limited ('FCRE') 
 
Purchase of Unit K60, Lister Road, Basingstoke 
 
IRP Holdings Limited, a subsidiary of FCRE, has purchased a 59,000 sq ft 
distribution unit in Basingstoke for GBP9.56 million, reflecting a net initial 
yield of 5.2 per cent. The property is let to one tenant, Bunzl UK Ltd, on a 
lease expiring 2027, at a rent of GBP525,300 per annum. The purchase was funded 
out of the company's existing cash reserves. Following the purchase, net 
gearing was 30.3 per cent. 
 
Commenting on the purchase, Fund Manager Peter Lowe said 'industrial and 
distribution warehouses remain a favoured sector, and the acquisition 
complements the portfolio's existing south east holdings, providing secure 
income, backed by a solid financial covenant while delivering an attractive 
yield. The property itself is freehold, well configured and fit for purpose, 
benefits from the tenants long standing and ongoing commitment to the site, and 
also offers good re-letting prospects '. 
 
 
 
All Enquiries: 
 
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] 
 
 
Peter Lowe 
Scott Macrae 
F&C Investment Business Ltd 
 
Tel: [phone] 
Fax: [phone] 
 
 
 
 
END 
 

(END) Dow Jones Newswires

October 12, 2017 06:45 ET (10:45 GMT)