CMGP Comm. Prop. (SEE LSE:CGA)

RNS Number:8315Y
Commercial Group Properties PLC
22 June 2007


22 June 2007

                        Commercial Group Properties PLC
                  ("Commercial Group", "CGP" or "the Company")

          Agreement to lease between 900,000 sq ft and 1,100,000 sq ft
          of business accommodation by the Beijing Association of SME
         and revaluation of land at Manston Business Park, Thanet, Kent


Commercial Group Properties PLC, the recently AIM-listed property development
company, announces that it has signed a ten year agreement with Beijing
Association of SME to lease between 900,000 sq ft and 1,100,000 sq ft of
business accommodation at the Manston International Business Park on 49.53 acres
of the site which is allocated employment land, and is also subject to and with
the benefit of such agreement in respect of 1,000,000 sq ft.


The potential income from this development has substantially increased the value
of the Manston site, and CGP has received from Savills (L&P) Ltd a revaluation
of land at its Manston Business Park site, reporting an increase in the value of
the original 105.79 acre site from #16.7 million to #37.4 million.


Taking into account not only the valuation referred to above, the valuations of
all the other CGP's sites, as set out in the AIM Admission Document, and also a
valuation of #8,000,000 for an additional 73 acres east of Manston Business Park
prepared at the time of the acquisition in March of this year, the total Market
Value of CGP's sites is #56,500,000.


The revaluation process was conducted on an open market value basis.


                                      Ends


For further information, please contact:

Commercial Group Properties PLC                  +44 (0) 1843 860 866
Ken Wills

Beaumont Cornish Limited                         +44 (0) 20 7628 3396
Roland Cornish

Holborn Public Relations Limited                 +44 (0) 20 7929 5599
Mark Longson






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

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