Acquisition

29 Jun 2005 14:42

Mapeley Limited 29 June 2005 PRESS RELEASE 29th June 2005 Mapeley Limited Acquisition of Delta Point, Croydon Mapeley Limited, the property investment and outsourcing company, announces the purchase of Delta Point, Croydon from Minerva for a cash consideration of £56.25m. Delta Point is a 23,226 sq m (250,000 sq ft) office building constructed in two blocks of 8 and 13 floors. It is fully let to BT Group Plc for a term expiring in September 2011, at a rent of £4.65m per annum. Jamie Hopkins, Chief Executive Officer of Mapeley, said; 'This acquisition fits our direct property investment strategy of acquiring well let, income producing office buildings which are let to highly rated tenants.' -ends- For further information please contact: Tim McCall MJ2 Business Communications Tel: +44(0)20 7491 7776 / +44(0)7753 561862 Email: tim.mccall@mj2 ltd.com / Mapeley@mj2 ltd.com This information is provided by RNS The company news service from the London Stock Exchange