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31 Jul 2008 08:00
MCKAY SECURITIES PLC
PRESS RELEASE
McKay completes letting at Brooklands, Weybridge
McKay Securities PLC is pleased to announce the letting of its Vanguard Warehouse unit off Vickers Drive, Brooklands Industrial Estate to Parcelnet, on a five year lease at a contracted rent of £305,000 pa.
The 38,000 sq ft warehouse is part of a larger building acquired by McKay in 2007 from Yamaha Motor (UK) Limited who took a lease-back of the office element, leaving the warehouse surplus to their requirements. On completion of subdivision works, marketing of the self contained, high quality unit attracted Parcelnet, who will use the warehouse as a depot for their courier delivery network.
Commenting on the letting, Simon Perkins, Managing Director of McKay, said "we are pleased to welcome Parcelnet, and the building is now fully income producing ahead of expectations at the time of purchase. Occupier interest has supported our confidence in the building and the location which continues to attract a range of high quality retail, motor and distribution occupiers".
Savills and Wadham and Isherwood represented McKay Securities PLC.
Background Information
McKay Securities PLC is a Real Estate Investment Trust specialising in the development and refurbishment of quality commercial buildings within established and emerging growth areas of Central London and the South East of England. Completed projects are retained and managed for longer term growth within the Company's portfolio, valued in excess of £316m. McKay has secured funds available for further acquisitions totalling £45 million.
Parcelnet, a member of the Otto Group, is the UK's largest courier delivery network and a leading provider of home shopping fulfilment services for retailers such as Next Directory, Boden, Mothercare, and Damart. Parcelnet handles over 90 million parcel delivery and returns annually, and directly employs 1100 people across the UK.
Contacts
Simon Perkins, McKay Securities PLC - 0118 950 2333
Steve Pigott, Wadham and Isherwood - 01276 683200
Barry Roberts, Savills - 0207 499 8644
31st July 2008
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