Disposal of Property

To:                  RNS
Date:               Friday 3^rd July 2015
From:               F&C Commercial Property Trust Limited
 

Disposal of Property

The Board announces that, on 30 June 2015, the Company completed the sale of its Absolute Ownership (Scottish equivalent to English Freehold) in 124-125 Princes Street, Edinburgh for £18.05 million. The property comprises a seven storey building providing a prominent retail unit and office accommodation on the upper floors. The retail unit is currently let to Urban Outfitters and the offices to five other tenants. The sale price compares to the valuation as at 31 December 2014 of £15.10 million.

The disposal realises substantial capital growth following the completion of a programme of asset management activities which included the refurbishment of the office floors and the successful leasing of those floors.  The property is now fully let providing an opportune time to sell the asset and to redeploy the capital into new asset management opportunities within the portfolio.

All enquiries to:

The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St. Peter Port
Guernsey GY1 3QL
Tel: [phone]
Fax: [phone]
 

Richard Kirby
F&C REIT Property Asset Management plc
Tel: [phone]
 

Graeme Caton
Winterflood Securities Limited
Tel: [phone]