Disposal

Wynnstay Properties PLC
06 October 2004


Wynnstay Properties PLC

6 October 2004



               Wynnstay Properties PLC ('Wynnstay' or 'the Company')
                            Investment Property Disposal


Wynnstay Properties PLC announces that on 6 October 2004, contracts were
exchanged for the sale of its freehold office and retail property interests in
York Road, Bognor Regis, West Sussex for a cash consideration of £1,475,000.
This compares with their combined valuation of £1,025,000 at 25 March 2004,
resulting in a surplus of £450,000 before costs and taxation.  Completion is
scheduled to take place on 25 February 2005, until which date the Company is
entitled to the rental income derived from the properties, currently amounting
to £107,000 p.a.


Commenting on the transaction, Philip Collins, Chairman, said 'These properties
have been a part of Wynnstay's portfolio for many years.  Although benefiting,
in some instances, from long lease terms, they have not demonstrated the rental
growth that we have seen elsewhere in the portfolio.  This aspect, coupled with
the substantial resulting surplus over valuation, provided a compelling case for
their disposal.'





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