SCHRODER EUROPEAN REAL ESTATE INV TRUST PLC - Acquisition - Completion of The Purchase of The Office Property Located in Boulogne-Billancourt (Paris) France
SCD 201603310083A
Acquisition - Completion of The Purchase of The Office Property Located in Boulogne-Billancourt (Paris), France
Schroder European Real Estate Investment Trust PLC
(Incorporated in England and Wales)
Registration number: 09382477
JSE Share Code: SCD
LSE Ticker: SERE
ISIN number: GB00BY7R8K77
31 March 2016
ACQUISITION - COMPLETION OF THE PURCHASE OF THE OFFICE PROPERTY
LOCATED IN BOULOGNE-BILLANCOURT (PARIS), FRANCE
Further to the announcement on 22 December 2015, the Board of Schroder European Real
Estate Investment Trust Plc (the "Company") confirms completion of the purchase of the
office property located in Boulogne-Billancourt (Paris) at a purchase price of €37.5 million
reflecting a net initial yield of 5.7%. The asset is well located in Boulogne-Billancourt, a
densely populated and established office area in western Paris. It is fully let to a leading
technology consulting and engineering company at sustainable rents with a remaining lease
term of 5 years.
As previously announced, the Company has also committed to acquire an additional three
assets having a total purchase price of €53 million. The Company continues to pursue
negotiations on a number of other potential transactions however no firm commitments have
been made as at the date of this announcement.
Enquiries:
Duncan Owen/Tony Smedley
Schroder Real Estate Investment Management Limited Tel: 020 7658 6000
Ria Vavakis
Schroder Investment Management Limited Tel: 020 7658 2371
Sponsor: PSG Capital Proprietary Limited
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