To:                   RNS

    Date:               31 July 2015

    From:              F&C Commercial Property Trust Limited

    Acquisition of Property

    The Board announces that, on 31 July 2015, the Company completed the
    acquisition of Abstract (Crawley) Limited, the single ownership vehicle of The
    Leonardo Building.  The property comprises a Grade A Headquarters Office
    Building occupying a prime location within the Crawley Business Quarter, Manor
    Royal, Crawley. The Leonardo Building is currently under construction with
    practical completion expected 31 December 2015 and completion of Category A
    specification scheduled for 31 March 2016. 

    The Leonardo Building provides 110,545 sq ft net internal area of accommodation
    and benefits from a strong office tenant in Virgin Atlantic Ltd with an
    attractive overall weighted unexpired term in excess of 16.5 years, with an 18
    month rent free period, off an initial rent of £23.00 per sq ft.

    The total consideration upon completion of the development will be £45.3
    million. This is a significant transaction for the Company and provides it with
    exposure to an attractive office market in the South East of England with very
    limited new supply, providing strong rental growth potential. The property will
    be income producing, generating rental income of approximately £2.5 million per
    annum, equivalent to a net initial yield of 5.3 per cent.

    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
    F&C REIT Property Asset Management plc
    Tel: 0207 499 2244

    Graeme Caton
    Winterflood Securities Limited
    Tel: 0203 100 0268