Acquisition

RNS Number:8889Q
Wynnstay Properties PLC
14 October 2003

Wynnstay Properties PLC

14 October 2003

Investment Property Acquisition

Wynnstay Properties PLC announces that on 13 October 2003, it exchanged
contracts for the purchase of Oakcroft Business Centre, Oakcroft Road,
Chessington, Surrey for a consideration of #1,900,000 which will be funded from
the Company's existing bank facilities.  Completion is scheduled for 10 November
2003.

This freehold property is located three miles south of Kingston upon Thames,
with convenient road connections to the A3 and the M25.  It comprises three 2
storey units, totaling 14,989 sq.ft. including open plan office accommodation,
surrounding a secure central courtyard car parking area.

The property is fully let on leases expiring between March 2011 and March 2013,
currently producing an income of #150,568 per annum, equivalent to a yield of
approximately 7.5% per annum, after taking account of acquisition costs.

Commenting on the transaction, Philip Collins, Chairman, said "We are very
pleased to have been successful in acquiring this modern, attractive and
well-located property which represents a further important step towards our
stated objective of focusing Wynnstay's portfolio in central southern England."

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