WPFI Westbury Inc

RNS Number:8318R
Westbury Property Fund Limited
27 September 2005

The Westbury Property Fund Limited

Property Acquisition and Disposals



27th September 2005





The Westbury Property Fund Limited (the "Company") announces that it has
exchanged contracts on the acquisition of a property and completed the
profitable sale of two further properties.



Acquisition of the long leasehold interest in the Lane Group Plc unit, Garonor
Way, Royal Portbury Dock, Bristol



The Westbury Property Fund has agreed to acquire industrial premises, comprising
38,516 sq ft on a site of more than 6 acres, located less than a mile from
junction 19 of the M5 motorway to the west of Bristol City centre.  The
acquisition has been made by way of a sale and leaseback from the Lane Group Plc
for a term of 20 years with a tenant break option at year 15 at a rent of
#325,000 per annum.  The lease benefits from 5 yearly upward only rent reviews
with the rent at year 5 being reviewed to the higher of open market rental value
or RPI.  The price paid, #3.95m, reflects a net initial yield of 7.78% and the
transaction is scheduled to complete in November 2005.



Disposal of interest in the Orton Shopping Centre LLP



The Company has also completed the disposal of its interest in the 120,000 sq ft
Orton shopping centre in Peterborough and has generated a net profit after all
costs of #0.6m based on the initial investment of #1.1m made in October 2003.
This is the Company's third profitable realisation of an investment held in its
Venture Portfolio which has achieved a significant return over a two year
period.



Disposal of Meadow Court III, Sheffield



The Company has completed the sale of its freehold interest in this multi-let
office in Sheffield for #3.95m.  The price achieved was #0.25m above the latest
property valuation.







For further information please contact:



Richard Burrell                          01244 893680 / 020 7659 6271
Berrington Fund Management LLP




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

ACQILFSEADIDFIE

Westbury Property Fund (LSE:WPFI)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024

Westbury Property Fund (LSE:WPFI)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024