Acq of Industrial Property

RNS Number:4075X
Wynnstay Properties PLC
17 January 2001



WYNNSTAY PROPERTIES PLC

Wynnstay Properties PLC ('the Company')
Acquisition of Industrial Property

Wynnstay Properties PLC announces that it has today exchanged
contracts  for  the  purchase of an  industrial  property  at
Newman  Lane,  Alton, Hampshire for a cash  consideration  of
#700,000,  with  completion scheduled to  take  place  on  24
January 2001.

Constructed in 1990, the property comprises a detached 11,160
sq.  ft. industrial unit including 3,160 sq. ft. offices  and
ancillary  accommodation on the first floor.  It is  situated
within the heart of Alton's industrial area, close to the A31
Guildford  to  Winchester  trunk  road.   The  site  area  is
approximately  0.45  acres  and  includes  parking   for   25
vehicles.

The  property  has  been let on a new 15 year  Lease  to  The
Aerogen Company Limited on full repairing and insuring  terms
at  a  commencing rent of #70,000 per annum,  representing  a
yield  of  9.4%  p.a.  after costs, subject  to  upward  only
reviews at the end of the 5th and 10th years.  The tenant has
a personal option to terminate the lease after ten years.

Commenting on the purchase Philip Collins, Chairman, said:

"We  are  pleased to have secured this property, to  which  I
referred  in  my  Interim Statement dated 28  November  2000.
This  acquisition  represents a further significant  step  in
improving the quality of the portfolio and is consistent with
the  Board's strategy of increasing the Company's  investment
in industrial property in central southern England."