Ediston Property Inv Comp PLC Letting at Abbey Retail Park, Daventry (0923B)
31 March 2017 - 5:00PM
UK Regulatory
TIDMEPIC
RNS Number : 0923B
Ediston Property Inv Comp PLC
31 March 2017
31 March 2017
Ediston Property Investment Company plc
Letting at Abbey Retail Park, Daventry
Ediston Property Investment Company plc (LSE: EPIC) ("the
Company") announces that it has exchanged contracts to let 17,610
sq. ft. at Abbey Retail Park, Daventry, to B&M Retail Limited.
The retailer has agreed to sign a 10-year lease at a rent of GBP14
per sq. ft. per annum. The lease will be on full repairing and
insuring (FRI) terms.
The letting secures another high profile tenant for the property
and will result in the retail park element being fully let. To
secure this letting and to provide the space needed by B&M,
reconfiguration of the terrace of units and tenant engineering is
required. Only one kiosk unit extending to 550 sq. ft. remains
vacant but there is good tenant interest in this space.
Calum Bruce, Director of Investment at Ediston Properties
Limited, the Company's Investment Manager, said: "Securing this
tenant required a pro-active management approach, which is
illustrative of the Ediston style of asset management -
understanding the needs of tenants and creating the space they
require. This letting improves the income stream of the Company and
reduces the void rate from 3.0% to 1.5%".
For further information:
Ediston Properties Limited (Investment Manager) 0131 225 5599
Calum Bruce
Canaccord Genuity Limited 020 7523 8000
Will Barnett
Neil Brierley
Dominic Waters
David Yovichic
Lansons 0207 294 3607
Laura Cronin
R&H Fund Services Limited (Company Secretary) 0131 550 3763
Donald Cameron
Notes to editors:
Ediston Property Investment Company plc is a UK real estate
investment trust (REIT) with a premium listing on the Main Market
of the London Stock Exchange. The Company invests in UK commercial
real estate assets to achieve its objective of providing its
shareholders with an attractive level of income together with the
potential for capital and income growth. It invests principally in
three commercial property sectors: office, retail (including retail
warehouses) and industrial, without regard to a traditional
property market relative return benchmark. The Company launched in
October 2014 with the acquisition of an initial GBP76.7m
diversified portfolio of UK commercial properties. In July 2015 it
raised GBP35.9 million by way of a placing and offer of ordinary
shares as part of a placing programme. As at 31 December 2016, it
owned 13 properties with an aggregate value of GBP182.07
million.
Portfolio management services are undertaken by Ediston
Properties Limited, which currently manages property assets across
the UK for institutional investors.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLLFERVFIIVID
(END) Dow Jones Newswires
March 31, 2017 02:00 ET (06:00 GMT)
Ediston Property Investm... (LSE:EPIC)
Historical Stock Chart
From Apr 2024 to May 2024
Ediston Property Investm... (LSE:EPIC)
Historical Stock Chart
From May 2023 to May 2024