Acquisition
March 22 2006 - 9:50AM
UK Regulatory
RNS Number:2161A
Westbury Property Fund Limited
22 March 2006
The Westbury Property Fund Limited
22 March 2006
The Westbury Property Fund acquires stake in Plantation Place, London EC3
The Westbury Property Fund ("the Fund") announces that it has acquired a 21.9%
stake in Plantation Place, Fenchurch Street, London EC3 from The British Land
Company PLC for approximately #15.3 million, reflecting an underlying property
yield of 5.1%.
Plantation Place was completed in 2004 and comprises over 550,000 sq ft of prime
office and retail accommodation. The building is multi let with an average
unexpired lease term of over 19.5 years. The office tenants include Accenture,
Wachovia Bank, Royal & Sun Alliance and Aspen Insurance and the retail tenants
include Next, Ernest Jones and Molton Brown.
The Fund has invested alongside clients of Insight Investment Management and
Starion (One Plantation Place) Ltd.
For further information please contact:
Richard Burrell / Ben Browne-Clayton 01244 893680 / 020 7659 6271
Berrington Fund Management LLP
This information is provided by RNS
The company news service from the London Stock Exchange
END
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