Wt Wner Usd Regulatory News (WNER)

19 Dec 2006 08:52

Warner Estate Holdings PLC19 December 2006 Warner Estate Holdings PLC RADIAL DISTRIBUTION ACQUIRES PRIME MAGNA PARK UNIT Warner Estate Holdings PLC ("Warner Estate") has today announced, on behalf ofits Radial Distribution Fund ("Radial"), a joint venture with Bank of Scotland,the £18.25million acquisition of the Unipart unit on Magna Park, reflecting anet initial yield of 5.92%. Purchased from clients of CB Richard Ellis Investors, the 195,758sq ft(18,185.9sqm) unit is let to Unipart Logistics for a further seven years. Located within the Golden Triangle in Lutterworth, Leicestershire, Magna Park isBritain's first and Europe's largest dedicated distribution park, acclaimedwithin the industry for setting new standards in concept and design. Covering500 acres, Magna Park provides close to 7.7 million sq ft of B8 distributionfloor space. Michael Stevens, Property Director at Warner Estate comments: "This acquisitioncontinues the expansion of the Radial Distribution Fund, taking its assets undermanagement to over £300million. "The excellent location and quality of Magna Park have attracted a host of majornational and international occupiers and we believe the park is well placed todeliver good rental growth for the future." - ends - Date: 19th December 2006 For further information contact: Warner Estate Holdings PLC City ProfilePhilip Warner, Chairman Simon CourtenayMichael Stevens, Property Director Tel: 020-7488-3244Peter Collins, Finance DirectorTel: 020-7907-5100Web: www.warnerestate.co.uk This information is provided by RNS The company news service from the London Stock Exchange