23 Dec 2014 07:00
23 December 2014
Ground Rents Income Fund plc
("GRIF" or the "Company")
Acquisition of two portfolios for £20.67 million
Ground Rents Income Fund plc, a listed real estate investment trust (REIT) investing in UK ground rents, announces that it has completed the acquisition of a portfolio of fixed uplift ground rents for £1.78 million and exchanged contracts for the acquisition of a further portfolio of index linked ground rents for £18.89 million. These acquisitions complete the investment of the equity raised by GRIF to date.
The fixed uplift portfolio produces a current total income of £73,500 per annum and the index linked portfolio produces a total current income of £565,400 per annum.
James Agar, Investment Director of Brooks Macdonald Funds, Investment Adviser to GRIF, commented: "These acquisitions provide shareholders with a significant portfolio of stable, secure, income-producing assets. This large index linked transaction takes the percentage of GRIF's index linked income to over 70%."
Contacts:
Brooks Macdonald Funds Limited Simon Wombwell / James Agar
| 020 7499 6424 |
N+1 Singer James Maxwell / Gillian Martin - Corporate Finance Alan Geeves / Sam Greatrex - Sales
| 020 7496 3000 |
Appleby Securities (Channel Islands) Limited Kate Storey
| 01481 755600 |
Tavistock Jeremy Carey/James Whitmore
| 020 7920 3150 |
Website: www.groundrentsincomefund.com
Ground Rents (GRIO)