EPIC.L Regulatory News (EPIC)

11 June 2015

Ediston Property Investment Company plc

("EPIC", or the "Company")

EPIC ACQUIRES DAVENTRY RETAIL PARK FOR £11.95 MILLION

Ediston Property Investment Company plc (LSE: EPIC) announces that it has exchanged contracts to acquire the Abbey Retail Park in Daventry from Threadneedle Property UK Select Fund for £11.95 million (net of acquisition costs and rental guarantees on two vacant units). The yield will be 7.80% when the Park is fully let. 

The property provides 63,160 sq. ft. of retail warehousing, anchored by Homebase, with parking for 386 cars, on a five acre site. The weighted average unexpired lease term is just under ten years. Two units totalling 11,666 sq. ft. are vacant. Two kiosks totalling 2,700 sq. ft. are also vacant but benefit from a two-year rent, rates and service charge guarantee from the vendor. This will be drawn down as income until the units are let and income producing, or the guarantee period ends.

Calum Bruce, Director of Investment at Ediston Properties Limited, the Company's Investment Adviser, said: "This purchase is in line with our strategy of acquiring quality assets with good, core income streams, but with angles to be exploited through active asset management and a focused letting strategy. We are confident that we will be able to attract high calibre tenants to the vacant units."

For further information:

Ediston Properties Limited (Investment Adviser) 0131 225 5599

Calum Bruce

Canaccord Genuity Limited 020 7523 8000

Will Barnett

Neil Brierley

Dominic Waters

David Yovichic

Tavistock 020 7920 3150

Jeremy Carey (jcarey@tavistock.co.uk)

James Whitmore (jwhitmore@tavistock.co.uk)

R&H Fund Services Limited (Company Secretary) 0131 524 6140

Martin Cassels

Notes

Ediston Property Investment Company plc is a UK real estate investment trust (REIT) with a premium listing on the Main Market of the London Stock Exchange. The Company invests in UK commercial real estate assets to achieve its objective of providing its shareholders with an attractive level of income together with the potential for capital and income growth. It invests principally in three commercial property sectors: office, retail (including retail warehouses) and industrial, without regard to a traditional property market relative return benchmark. The Company will seek to acquire assets which offer (or have the potential to offer) a secure income stream, with unexpired terms in line with the market average, secured against good covenants. It will typically target assets which have a net initial yield in excess of 6.5 per cent., although it may hold assets with a lower net initial yield if there are portfolio benefits.

The Company launched in October 2014 with the acquisition of an initial £76.7m diversified portfolio of UK commercial properties.

Portfolio management services are undertaken by Ediston Properties Limited, which currently manages property assets across the UK for institutional investors.