Last checked at 6 Jun 2014 09:47
6 JUNE 2014
ALPHA PYRENEES TRUST LIMITED
("ALPHA PYRENEES" OR THE "TRUST")
ALPHA PYRENEES SELLS A MULTI-LET WAREHOUSE & OFFICE INVESTMENT IN THE PARIS REGION AND A VACANT WAREHOUSE UNIT IN ZARAGOZA, SPAIN
Alpha Pyrenees has sold a multi-let warehouse and office investment located at Vitry-sur-Seine for €5.7 million which is 7.5% above its book value. The property totals 5,180 square metres arranged in 13 units let to a variety of tenants and is located in an industrial zone to the north east of Vitry-sur-Seine in the southern inner suburbs of the Ile-de-France. The purchaser is a private French investment company.
The Trust has also sold the larger of the two vacant warehouse units located in Zaragoza, Spain for €1.3 million representing book value. The unit represented 73% by area of the Trust's property holding in Zaragoza. The purchaser is a private Spanish company that will occupy the warehouse.
The proceeds from these sales will be held within the cash pooling arrangement established with the Trust's lenders, Barclays Bank PLC, to provide security for its loans and working capital for the Trust's operations.
For further information:
Dick Kingston, Chairman, Alpha Pyrenees Trust Limited 01481 231100
Paul Cable, Fund Manager, Alpha Real Capital LLP 020 7391 4700
For more information on the Trust, please visit www.alphapyreneestrust.com.