Wt Wner Usd Regulatory News (WNER)

13 Aug 2007 07:00

Warner Estate Holdings PLC13 August 2007 Warner Estate Holdings PLC ("Warner Estate" or "Group") Interim Management Statement Warner Estate announces that its first quarter trading to June 2007 is in linewith budget. The main highlights of the quarter have been the purchases of 2America Square, EC3 for £25.1million and 16 Upper Woburn Place, WC1 for£21.75million. The Group has also made five property disposals, totalling£38.6million, all of which have been at or above their 31 March 2007 values. Theeffect has been to increase further the Group's weighting in properties in abuoyant London market. Both multi investor funds managed by the Group, the £1.28billion AshtenneIndustrial Fund (AIF) and the £507million Apia Regional Office Fund (Apia)continued to make progress. In particular, Apia completed a £2millionrefurbishment at 225 Bath Street, Glasgow and AIF gained planning consent for75,000 sq ft of industrial development at Tameside, Manchester. Within the Group's £350million development pipeline, the 200,000 sq ft BouveriePlace shopping centre in Folkestone, due to open in November of this year, isnow 90% pre-let and the 100,000 sq ft redevelopment of Market Place, Bolton,jointly owned with Bank of Scotland, has commenced, with completion expectedtowards the end of 2008. Momentum is being maintained and the Group sees any weakness in the market as anopportunity to buy, both for assets under management and for its wholly ownedportfolio. Date: 13 August 2007 For further information contact: Warner Estate Holdings PLC City ProfilePhilip Warner, Chairman Simon CourtenayPeter Collins, Finance Director Tel: 020-7448-3244Michael Stevens, Property DirectorTel: 020-7907-5100Web: www.warnerestate.co.uk This information is provided by RNS The company news service from the London Stock Exchange