M&A Activity • Mar 16, 2015
M&A Activity
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RNS Number : 5250H
Secure Property Dev & Inv PLC
16 March 2015
16 March 2015
Secure Property Development and Investment Limited PLC (SPDI.L)
("Secure" or the "Company")
SECURE PROPERTY COMPLETES THE ACQUISITION OF A GLA17,756 SQM LOGISTICS PARK IN ATHENS
SECURE Property Development & Investment PLC (AIM: SPDI, www.secure-property.eu), today announces that, further to its statement of 11 August 2014, it has completed the acquisition of an income producing logistics park (the "Park"), located in the West Attica Industrial Area of Athens, Greece.
The Park comprises a fully let 17,756 leasable sqm warehouse property which has a photovoltaic alternative energy production facility installed on its roof. 70% of the space is let to the multinational transportation and logistics company Kuehne + Nagel, with the remaining 30% let to GE Dimitriou SA, a Greek company which trades electrical appliances.
The Park produces a net operating income ("NOI") of approximately €1.5 million per annum, of which a proportion comes from selling the electricity produced by the photovoltaic facility to the Greek Electric Grid.
The acquisition is the Company's first in Greece and is in line with SECURE's stated strategy of growing and diversifying regionally its property portfolio.
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SECURE PROPERTY Development & Investment plc +30-210-7226470
Lambros Anagnostopoulos
Constantinos Bitros
SP Angel Corporate Finance LLP +44 (0) 20 3463 2260
Tercel Moore
Jeff Keating
FTI Consulting +44 (0) 20 3727 1000
Richard Sunderland
This information is provided by RNS
The company news service from the London Stock Exchange
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