Acq of Industrial Property

Wynnstay Properties PLC 17 January 2001 WYNNSTAY PROPERTIES PLC Wynnstay Properties PLC ('the Company') Acquisition of Industrial Property Wynnstay Properties PLC announces that it has today exchanged contracts for the purchase of an industrial property at Newman Lane, Alton, Hampshire for a cash consideration of £700,000, with completion scheduled to take place on 24 January 2001. Constructed in 1990, the property comprises a detached 11,160 sq. ft. industrial unit including 3,160 sq. ft. offices and ancillary accommodation on the first floor. It is situated within the heart of Alton's industrial area, close to the A31 Guildford to Winchester trunk road. The site area is approximately 0.45 acres and includes parking for 25 vehicles. The property has been let on a new 15 year Lease to The Aerogen Company Limited on full repairing and insuring terms at a commencing rent of £70,000 per annum, representing a yield of 9.4% p.a. after costs, subject to upward only reviews at the end of the 5th and 10th years. The tenant has a personal option to terminate the lease after ten years. Commenting on the purchase Philip Collins, Chairman, said: 'We are pleased to have secured this property, to which I referred in my Interim Statement dated 28 November 2000. This acquisition represents a further significant step in improving the quality of the portfolio and is consistent with the Board's strategy of increasing the Company's investment in industrial property in central southern England.'