Sdic Power. Regulatory News (SDIC)

17 Jul 2006 10:43

Speymill Deutsche Immobilien Co PLC17 July 2006 Speymill Deutsche Immobilien Company plc ("SDIC" or "the Company") Further Investments Further to the recent announcement of July 11th 2006, Speymill DeutscheImmobilien Company plc, the pan-German residential property investment companylisted on AIM, announces further investments. Main highlights are: - Residential properties in various German cities have been notarized (committed to be purchased) for an aggregate cash consideration of approximately Euro 241.3 million. - Expected initial rental income of approximately Euro 17 million pa (this is current income, projected income is Euro 18.7m) - Blended net initial yield of 6.8%, projected to rise to 7.5% within 12 months The Company has notarized apartment blocks containing approximately 3,944 units(3,810 residential and 134 commercial) at an overall average price of Euro 855per square metre. There are approximately 402 vacant units indicating anoccupancy rate of 90%. The Company expects the occupancy level to rise over timeonce it has had an opportunity to manage the properties. 17 July 2006 This information is provided by RNS The company news service from the London Stock Exchange