BourneEnd Properties - Acquisition of Interest

RNS Number:7794C
Bourne End Properties PLC
20 December 1999



   BOURNE END ACQUIRES 50% INTEREST IN HOUNSLOW SHOPPING CENTRE FOR #15.5m

Bourne End Properties plc ("Bourne End"), today announces that it has
exchanged contracts to acquire a 50% interest in the 280,000 sq ft Treaty
Centre, Hounslow from Taylor Woodrow Property Company Limited for #15.5m cash,
reflecting a net initial yield of 7.6%.

Bourne End is acquiring 135 year leasehold interest in the centre. The head
lessee is Eagle Star.

Developed in 1985 the fully let centre is anchored by a Debenhams department
store together with national multiples including Superdrug, Lloyds TSB,
Wilkinsons, Arcadia, Thomas Cook, River Island and Clinton Cards. The property
also includes a 700 space multi-storey car park.

Currently the Treaty Centre generates net annual rents of approximately #2.5m
of which Bourne End will receive approximately #1.25m.

David Roberts, Bourne End's Chief Executive, said: "We are delighted to have
acquired this 50% interest in the Treaty Centre and aim to increase both the
income stream and capital value. As a result of this acquisition our nine
shopping centres now account for more than 75% of our total property
investment portfolio."

                             
Contact:  David Roberts, Chief Executive,
          Bourne End Properties                 Tel: 0171 631 4500

          Baron Phillips,
          Baron Phillips Associates             Tel: 0171 224 1302


END

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