To: RNS
Date: Friday 3rd July 2015
From: F&C Commercial Property Trust Limited
Disposal of Property
The Board announces that, on 30 June 2015, the Company completed the sale of
its Absolute Ownership (Scottish equivalent to English Freehold) in 124-125
Princes Street, Edinburgh for £18.05 million. The property comprises a seven
storey building providing a prominent retail unit and office accommodation on
the upper floors. The retail unit is currently let to Urban Outfitters and the
offices to five other tenants. The sale price compares to the valuation as at
31 December 2014 of £15.10 million.
The disposal realises substantial capital growth following the completion of a
programme of asset management activities which included the refurbishment of
the office floors and the successful leasing of those floors. The property is
now fully let providing an opportune time to sell the asset and to redeploy the
capital into new asset management opportunities within the portfolio.
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: 020 7499 2244
Graeme Caton
Winterflood Securities Limited
Tel: 020 3100 0268