Purchase of 6 Apartments

1 Sep 2006 07:00

Off-Plan Fund Limited (The)01 September 2006 For Immediate Release 1 September 2006 The Off-plan Fund Limited Purchase of six apartments in Leicester The Off-plan Fund Limited, which specialises in providing forward finance to UK housebuilders, has completed on its contracts to purchase six apartments at Wimbledon House in Leicester. The purchase price totalling £931,500 was financed using cash reserves. The purchase comprises six apartments on the ground and first floors within a development of 20 units in a recently refurbished Victorian warehouse. TheRed-Book valuation carried out at the March interim period valued the propertiesat £1,060,000. The Board intendeds to let the apartments, whilst the immediate area undergoes further redevelopment. Close by, a new landmark building, which is to house thePerforming Arts Centre, is due for completion in late 2007 and the Boardtherefore believes there is potential for further capital growth. List of Contacts Development Capital ManagementRoger HornettTom Pridmore020 7355 7600 Buchanan Communications Charles Ryland020 7466 5000 Numis Securities Charles Farquhar020 7776 1500 This information is provided by RNS The company news service from the London Stock Exchange