Acquisition

28 Sep 2006 15:04

Mapeley Limited28 September 2006 PRESS RELEASE 28 September 2006 Mapeley Limited Acquisition of the Pearl Centre, Lynch Wood Park, Peterborough Mapeley Limited, a market leader in property investment and outsourcing,announces the purchase of the Pearl Centre, Lynch Wood Park, Peterborough fromthe Pearl Group for a cash consideration of £65m. The Pearl Centre is a 344,000 sq ft (32,000 sq m) office building complex fullylet to Diligenta Limited, a UK based subsidiary of Tata Consultancy Services,until March 2018. The initial rent of £4.13m per annum is subject to annualRPI-linked increases in each of the remaining 12 years of the lease term. Jamie Hopkins, Chief Executive Officer of Mapeley, said: "This acquisition fits extremely well with our investment strategy of acquiringwell let regional office buildings which produce a stable income. Lynch Woodprovides highly specified office accommodation in a location we know very well.Mapeley already owns or manages in excess of 385,000 sq ft (36,000 sq m) spreadacross 15 different buildings in Peterborough." - ends - For further information, please contact: Emma Parr, Investor RelationsMapeleyTel: +44(0)20 7788 1742Email: ir@mapeley.com Tim McCallMJ2 Business CommunicationsTel: +44(0)20 7491 7776 / +44(0)7753 561 862Email: tim.mccall@mj2ltd.com / mapeley@mj2ltd.com This information is provided by RNS The company news service from the London Stock Exchange