Cardiff Property PLC
3 February 2000
SUCCESSFUL LETTING OF NEW HEADQUARTERS OFFICE BUILDING IN
SURREY TO RETAIL DECISIONS PLC
Cardiff Property is pleased to announce that First Choice Estates Plc, a wholly
owned subsidiary, has completed the letting of its new headquarters office
building known as 'The Clock Tower' at Brookwood, Surrey to Retail Decisions
plc.
First Choice acquired the property in August 1997 and following a revision of
the existing planning permission commenced the development of a new 16,000 sq ft
net office building. The Clock Tower, situated between Guildford and Woking,
stands in approximately 1 acre of landscaped grounds and provides over 80 car
parking spaces. The opportunity exists for a further 3,000 sq ft net office
space subject to planning. Retail Decisions will use the building for its
rapidly growing UK operation which provides transaction services to many blue
chip retailers including the fast growing e-commerce arena.
The building has been let on an institutional lease for a term of 20 years at a
rental of £390,000 per annum.
Further information
Richard Wollenberg Chairman 01784 437444
Will Martin Albert E Sharp Securities 020 7489 4600
Brian Coleman-Smith Binns & Company 020 7786 9600