McKay Securities PLC Acquisition of Greyfriars Rd, Reading

McKay GBP5. 8 huge number of acquisition in Central Reading after Hermes iPhone 6 plus wallet case Real Estate

McKay Securities PLC, the only Real Estate Investment Trust focussed on the goal entirely on the office and commercial markets of London and the Southwest East, is pleased to announce usually the freehold acquisition of 9 Greyfriars Motoring, Reading from Hermes iPhone Real Estate pertaining to GBP5. 8 million.

The property can be found at close to the main line railway repos and the Station Hill regeneration article within Central Reading. Committed with proposed investment in the station, Crossrail and a major redevelopment will every bit enhance the attraction of the area to be occupiers.

Hermes Real Estate sold the exact property having recently received planning authorization to enhance the entrance and improve the office space at the building. 9 Greyfriars Road was constructed in 1989 to a high specification. It masse 38, 200 sq ft on the floor floor and three upper floorboards and benefits from 19 private airport parking spaces and cycle parking. Home is vacant, having previously started occupied by a single tenant onto a 25 year lease. A full repair is planned to improve the foreign appearance and to provide modern corporation space by summer 2015.

Pat Perkins, Managing Director of McKay comments:

"This welcome acquisition allows for us with the opportunity to deliver an office environment refurbishment to the market close to Viewing Station ahead of larger proposed strategies in 2015. The completed repair will compete favourably with other houses due to its quality. It will provide naturel flexible floors of circa twelve, 000 sq ft and is selection self-contained building of this quality through this location.

"Since the Capital Raising attached to GBP87 million in February, such a purchase increases the funds deployed inside acquisitions to GBP45 million. And is also our fourth purchase, and we will most certainly be continuing to assess further acquisitions with portfolio opportunities. "

Chris The singer, Chief Executive of Hermes Real Estate created:

"Based on our extensive expertise with experience as a real estate investor, we are secure now is the right time to be actively marketing communications a select number of assets in order to rotate capital at a London, regional with international level across our boosting portfolio. As part of this strategy, we have capitalised on current and future further advancement and infrastructure improvements in Looking through the timely sale of 9 Greyfriars Road. "

Vail Williams served for McKay Securities PLC. Campbell Gordon acted for Hermes Houses and condos.

This information is provided by RNS

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