Sale of Property

Wynnstay Properties PLC
30 September 2002



Wynnstay Properties PLC

30 September 2002



Sale of Investment Property



Wynnstay Properties PLC announces that on Friday 27 September 2002 it exchanged
contracts on and simultaneously completed the sale of its freehold property at
12 North Hill, Colchester, Essex for a cash consideration of £270,000 compared
with its valuation of £165,000 at 25 March 2002, representing a profit on
disposal of £105,000 before costs.



The property, comprising 3 floors of office accommodation, currently produces a
rental income of £18,000 p.a.  The proceeds will be applied in reducing bank
borrowings.  Commenting on the transaction, Philip Collins, Chairman, said 'The
sale of this small office property, at an attractive price, is in pursuance of
the Company's stated objective of making selective disposals and concentrating
future investment in central southern England.'



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