First Property Group PLC Leasing progress by Associate in Cluj, Romania (5685F)
11 Juillet 2023 - 8:00AM
UK Regulatory
TIDMFPO
RNS Number : 5685F
First Property Group PLC
11 July 2023
Date: 11 July 2023
On behalf of: First Property Group plc ("First Property",
the "Company" or the "Group")
Embargoed: 7am
First Property Group plc
Leasing progress by Associate in Cluj, Romania
First Property Group plc (AIM: FPO), the property fund manager
and investor, is pleased to report that it has signed two new
leases, for an aggregate area of 945 square metres, at Maestro
Business Centre, an office property in Cluj-Napoca, Romania. The
property is owned by Fprop Cluj Ltd, in which the Group has a
21.17% interest. The building is now fully let, up from 93% leased
previously.
The net operating income earned from the property should
increase from approximately EUR915,000 per annum to approximately
EUR985,000 per annum by May 2024, after rent abatement incentives
have expired.
The environmental performance of the building was rated by the
Building Research Establishment, Environmental Assessment
Methodology ( BREEAM) as "Excellent" in October 2022.
Ben Habib, Chief Executive Officer of the Company, said:
"These are creditable leasing transactions and follow similar
leasing progress at office properties under the Group's management
in Poland."
ENDS
For further information please contact:
First Property Group plc Tel: +44 (20) 7340
0270
Ben Habib (Chief Executive Officer) investor.relations@fprop.com
Laura James (Group Finance Director)
Jeremy Barkes (Director, Business
Development)
Jill Aubrey (Director, Compliance
& Company Secretary)
Allenby Capital (NOMAD & Broker) Tel: + 44 (20) 3328
5656
Nick Naylor (Corporate Finance)
Daniel Dearden-Williams (Corporate
Finance)
Amrit Nahal (Sales and Corporate Broking)
Notes to Investors and Editors :
First Property Group plc is an award-winning property fund
manager and investor with operations in the United Kingdom and
Central Europe. Its focus is on higher yielding commercial property
with sustainable cash flows. The Company is flexible and takes an
active approach to asset management. Its earnings are derived
from:
-- Fund management - via its FCA regulated and AIFMD approved
subsidiary, First Property Asset Management Ltd ("FPAM"), which
earns fees from investing for third parties in property. FPAM
currently manages twelve funds which are invested across the United
Kingdom, Poland and Romania.
-- Group properties - principal investments by the Group to earn
a return on its own capital, usually in partnership with third
parties. Investments comprise six directly held properties in
Poland, one in Romania, and non-controlling interests in nine of
the twelve funds managed by FPAM.
Quoted on AIM, the Company has offices in London and Warsaw.
Around one third of the Company's shares are owned by management,
directors and their families. Further information about the Company
and its properties can be found at: www.fprop.com . To receive RNS
alerts by email please subscribe here .
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END
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