Acquisition

WYNNSTAY PROPERTIES PLC
16 July 1999


ACQUISITION OF INDUSTRIAL WAREHOUSE

Wynnstay Properties PLC announces that it has today acquired
the  freehold to an industrial warehouse at Unit 3,  Eastern
Road,  Aldershot,  Hampshire, for a  cash  consideration  of
£725,000.

Constructed in 1978, the property comprises a detached 9,857
sq.ft.  industrial warehouse with 1,758 sq.ft. of  ancillary
two  storey offices.  It is located to the east of Aldershot
town  centre in an established industrial area, adjacent  to
the  A331 dual carriageway.  The site comprises an  area  of
0.67  acres,  including a secured service yard  and  parking
area.

The  property is currently let to Berisford PLC  on  a  full
repairing and insuring Lease for a 25 year term expiring  on
28  September 2003.  The current passing rent is £73,250 per
annum.   The  undertenants have a reversionary lease  for  a
term   of   5  years  from  29  September  2003,  when   the
commencement rent will be the greater of £72,350  per  annum
or  such increased amount as agreed following a rent  review
from that date.

The  acquisition of this property, which will form  part  of
the  investment portfolio, is consistent with  the  comments
contained in the Chairman's statement in the 1999 Report and
Accounts where it was noted that the Company was underweight
in  the industrial sector and that the Board had decided  to
concentrate future investment primarily in central  southern
England.

For further information contact:
Mr Michael Cheesmer, Managing Director
Tel: [phone]