Real Estate Aquisitions

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					Press release

                                                                                 8 November 2010

                     INVISTA ACQUIRES INDUSTRIAL ASSETS
                          IN BIRMINGHAM AND BRISTOL

Invista Real Estate Investment Management (“Invista” / the “Company”) announces that, on behalf
of clients, it has acquired two industrial assets, Maybrook Business Park in Minworth, Birmingham,
and One Portbury in Bristol, for a combined total consideration of £20.1m.


Maybrook Business Park, Birmingham
Invista has acquired a multi-let industrial trade park to the north east of Birmingham from Croudace
Properties for £13.4m, reflecting a net initial yield of 8.8%. Totalling 280,000 sq ft, the estate is
multi-let to a mix of large multi-nationals, local and public sector occupiers, including the NHS,
Edmondson Electrical and Heaven Sends. The current occupancy rate of the park is 83%.


Acquired in partnership with Canmoor, who will act as asset manager on the scheme, the 1970’s
industrial trade park offers significant opportunities to maximise returns through active asset
management.


Commenting on the Birmingham acquisition, Richard Walters, Head of Industrial at Invista,
said: “With a couple of units already under offer at the scheme and several further value adding
opportunities identified, Maybrook is a well located industrial estate that is ideally suited to the
team’s active management approach..”


Tom White, Director of Canmoor, added: “Maybrook has a great letting record and we believe
that the current rental levels and our refurbishment plans offer excellent room for further value
enhancement. We’re delighted to have teamed up with Invista again.”


One Portbury, Bristol
In an off-market transaction, Invista has exchanged contracts to purchase an 86,000 sq ft newly
refurbished industrial distribution warehouse from London and Devonshire Trust for £6.7m,
reflecting a net initial yield of 6.75%. Located close to the junction of the M4 and M5 motorways,
the property will be let to Samworth Brothers, the parent company of 13 British chilled food brands
including Ginsters and Melton Foods, on a lease expiring in 2026 with fixed CPI-linked increases.
Nearby occupiers include Asda, Wincanton and Bunzl.


Speaking about the Bristol purchase, Tom Gamble, Director, Industrial Team at Invista,
commented: “Taking advantage of attractive off-market opportunities that our wide network of
contacts offers us, the Bristol acquisition represents a long-term secure income asset, let to a
strong covenant, with performance being delivered through fixed rental increases.”
Gerald Eve acted for Canmoor and Invista on the purchase of Maybrook Business Park, while BNP
Paribas Real Estate acted for Croudace Properties.

Alder King acted for Invista on the purchase of Portbury.
                                                   -ENDS-


For further information, please contact:
Invista Real Estate                                                       020 7153 9424
Jayne Phelan / Tom Gamble


Financial Dynamics                                                        020 7831 3113
Dido Laurimore / Olivia Goodall


About Invista Real Estate Investment Management

Invista Real Estate Investment Management is the largest UK listed real estate fund management group.
The Group manages both commercial and residential property across the UK, Continental Europe and Asia,
and has a total of £5.4 billion of assets under management as at 30 June 2010. Invista Real Estate manages
a total of 23 funds as at 30 June 2010, some of which are for the largest UK providers of savings and
investment products such as, Halifax and St. James’s Place. Invista Real Estate also manages a number of
collective investor funds, including real estate investment trusts and open ended funds such as Invista
Foundation Property Trust and Invista European Real Estate Trust which are listed on the main market of the
London Stock Exchange. Invista Real Estate has offices in London, Paris, Guernsey and Hong Kong and
operations in Luxembourg and Singapore.
Any forecast, opinion, projection or target where provided is indicative only, is not guaranteed in any way and
may change in the future. Invista does not assume any obligation to update any such forecast, opinion,
projection or target.
For more information on Invista Real Estate or the funds it manages visit www.invistarealestate.com.
Issued by Invista Real Estate Investment Management Limited. Registered office, Exchequer Court, 33 St
Mary Axe, London, EC3A 8AA. Registered in England and Wales. Registered number 04459443.
Authorised and regulated by the Financial Services Authority.                          Ref: Inv-721

				
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