Wt Wner Usd Regulatory News (WNER)

19 Jan 2005 11:53

Warner Estate Holdings PLC19 January 2005 Warner Estate Holdings PLC WARNER ESTATE SELLS FORTUNA PORTFOLIO FOR £29.2 MILLION Warner Estate Holdings PLC ("Warner Estate") has exchanged contracts to sell itsFortuna Portfolio to Napier Brown Holdings for £29.2 million. The deal reflectsa net initial yield of 7.36%. The mixed portfolio comprises six modern offices buildings in Guildford,Colchester, Addlestone, Horsham, Purley and Winchester together with aWoolworths store in Rugby and a warehouse property in Coventry. The propertiesproduce a current net rental income of just over £2.2 million. Commenting on the transaction, Richard Moore, Property Director at Warner Estatesaid, "This disposal is part of the continuing adjustment to the sectorweighting of our wholly owned core portfolio and follows the recent purchase ofthe Hale Lees Shopping Centre, Aylesbury, in September 2004 for £27.6 million". In the same week Warner Estate has also exchanged contracts to sell an officeproperty at 122 Whitechapel High Street, London E1 to the current tenant (MrPatel) for £750,000. -ends- Date: 19th January 2005 For further information: Warner Estate Holdings PLC Redwood ConsultingPhilip Warner, Chairman Liz D'Oliveira/Pia ChoudhuryRichard Moore, Property Director Tel: 020 7224 4300Peter 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