Unitech Corporate Parks Plc : Portfolio Update

Unitech Corporate Parks Plc

Portfolio Update

Unitech Corporate Parks Plc ("UCP" or "the Company") announced on 20 August 2013 that the Company's most advanced development, G2, had been offered for sale and an update would be given before the 2013 Annual General Meeting.  UCP is pleased to report that negotiations with the two leading parties are proceeding well and it remains the Board's objective to announce an agreement on the sale before the end of this year.  As previously stated, return of a proportion of the sales proceeds to shareholders is therefore likely to take place during the first half of 2014.

UCP is also pleased to announce continued progress with lettings.  On 20 August 2013 the Company reported a strong pipeline of lettings which were either under negotiation or the subject of letters of intent and since that time the Company has received, from one tenant, binding commitments for 0.48m sq. ft. and options in respect of a further 0.33m sq ft.  Accordingly, the total office area leased, or subject to binding pre-lease commitments, has increased to 7.09 million sq. ft.  UCP continues to see strong interest from existing and prospective tenants and the Board anticipates reporting a further increase in commitments in its next letting update.

The Company's Annual General Meeting will be held at 10:00am on Friday 27 September 2013.

For further information please contact: