Disposal

 

TIDMKEIF 
 
RNS Number : 2035J 
Kenmore Euro Industrial Fund Ltd 
25 March 2010 
 

25 March 2010 
 
                Kenmore European Industrial Fund ("KEIF"/ "Fund') 
 
                  KENMORE EUROPEAN INDUSTRIAL FUND COMPLETES 
                              SALE OF BELGIAN ASSET 
 
Kenmore European Industrial Fund today announces that it has sold a logistics 
unit in the town of Olen, to the east of Antwerp, to Bolckmans Immobilien Groep, 
a local industrial investor, for a total consideration of EUR4,350,000. 
 
The property comprises a 197,789 sq ft (18,375 sq m) logistics unit dating from 
1989.  The building has been vacant since last year, following the departure of 
its former tenant.  Occupational demand in this market and for this size of unit 
is currently weak and there is new logistics space available in the same 
locality. 
 
Following the disposal, the KEIF Belgium portfolio occupancy rises to 86.1% from 
71.5%. 
 
Rob Brook, Managing Director of Kenmore Financial Services Limited, commented: 
 
"Given the current lack of demand for this size of unit, a sale was undertaken 
to improve the occupational profile of the KEIF Belgian portfolio in the light 
of the forthcoming refinancing." 
 
 
 
                                     -ENDS- 
 
For further information, please contact: 
 
 
Stephanie Highett / Dido Laurimore / Olivia Goodall, Financial Dynamics 
Tel: [phone] 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 DISPGUWCWUPUGCA