To:                  RNS
    Date:               23 December 2016
    From:               F&C Commercial Property Trust Limited
     

    Disposal of Property

    The Board announces that, on 22 December 2016, the Company completed the sale
    of its Freehold interest in 25 Great Pulteney Street, London W1 for £54.4
    million, reflecting a net initial yield of 3.95 per cent. The
    property comprises a seven-storey building providing high quality,
    contemporary, Grade A office accommodation and is fully let to four
    tenants. The sale price compares to the valuation as at 30 September 2016 of £
    51.2 million.

    25 Great Pulteney Street is a property that the Company fully redeveloped,
    completing in 2011. It was subsequently leased at high rents reflecting the
    quality of the building. The most recent re- letting achieved a rent of £
    96.50psf. The disposal crystallises substantial value for the Company, reduces
    its exposure to Central London and allows capital to be deployed into other
    opportunities.
     
     
    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: 01481 745324
    Fax: 01481 745051
     
    Richard Kirby
    BMO REP Asset Management plc
    Tel: 020 7499 2244
     
    Graeme Caton
    Winterflood Securities Limited
    Tel: 020 3100 0268