Mayflower Acq. Regulatory News (MAY)

2 Dec 2005 13:54

Mapeley Limited02 December 2005 PRESS RELEASE2 December 2005 Mapeley Limited Mapeley closes the purchase of Buildings 1 - 3, Microsoft Campus, Thames ValleyPark, Reading for £104.295 million Mapeley Limited (LSE: MAY), the property investment and outsourcing company,announces the purchase of Buildings 1 - 3, Microsoft Campus, Thames ValleyPark, Reading for a cash consideration of £104,295,000 from a joint venturebetween British Land and Teachers Insurance and Annuity Association of America.The purchase reflects a net initial yield of 6.9%. The freehold property ismade up of 3 headquarters office buildings comprising 241,000 sq ft (22,400 sqm) which are fully leased back to Microsoft Limited on flexible terms expiringin 2017. The acquisition was made through the purchase of units in Jerseyproperty unit trusts. Jamie Hopkins, Chief Executive Officer of Mapeley, said "This is an extremelyexciting acquisition for us and one which combines great real estate with anongoing relationship with a major occupier. This purchase brings the totalinvested by Mapeley this year to £478 million" -ends- For further information please contact:Tim McCallMJ2 Business CommunicationsTel: +44(0)20 7491 7776 / +44(0)7753 561862Email: tim.mccall@mj2ltd.com / Mapeley@mj2ltd.com This information is provided by RNS The company news service from the London Stock Exchange