RNS Number : 6128Z
ISIS Property Trust Limited
18 January 2011
From: ISIS Property Trust Limited
Date: 18 January 2011
ISIS PROPERTY TRUST LIMITED
PURCHASE OF INVESTMENT PROPERTY
ISIS Property Trust Limited, on 13 January 2011, exchanged contracts to purchase a retail warehouse at Hope Mill Retail Park, Foundry Street, Bury for £7,050,000 reflecting a net initial yield to the Company of 6.95%. This purchase has been made by way of a forward commitment and it is anticipated that the completion of the purchase will take place in May 2011.
The development is prominently located close to the town centre and within an established edge of centre retail warehouse location. The property extends to 35,000 sq ft, (3,252 sqm), and provides 135 car parking spaces.
The entire property is held freehold and has been let to three tenants, Dreams plc, Pets at Home Ltd and Smyths Toys (UK) ltd, on full repairing and insuring terms, by way of 15 year leases with five year upward only rent reviews.
The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
St Peter Port
Tel: 01481 745001
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