Wt Wner Usd Regulatory News (WNER)

1 Aug 2007 16:36

Warner Estate Holdings PLC01 August 2007 Warner Estate Holdings PLC WARNER ESTATE BUYS CITY OFFICE FOR £44M Warner Estate Holdings PLC ("Warner Estate") confirms the purchase of CableHouse, EC2 from a private vendor at £44million, reflecting a net initial yieldof 5.51%. Cable House, at 56-62 New Broad Street, provides 57,055sq ft of Grade A officespace set out over lower ground, ground and first to fifth floors. The Grade IIlisted building is let entirely to Tullett Prebon Group at an annual rent of£48.55 psf and is held long leasehold from the Corporation of London. Michael Stevens, Property Director at Warner Estate comments: "This is ahigh-quality prime asset with plenty of management potential. Sitting oppositeour existing holding in 55 Old Broad Street, this acquisition reaffirms ourcommitment to the fast growing City market, where rental expectations areencouraging." - ends - Date: 1st August 2007 Warner Estate Holdings PLC City ProfilePhilip Warner, Chairman Simon CourtenayMichael Stevens, Property Director Tel: 020-7488-3244Peter Collins, Finance DirectorTel: 020-7907-5100 Web: www.warnerestate.co.uk This information is provided by RNS The company news service from the London Stock Exchange