Kenmore Property Group - Mixed-Use Letting - UK

Date: 05 Jun 2008

Kenmore Property Group ("Kenmore") announces the completion of 24 new lettings in the first quarter of 2008, on behalf of four of its funds, Kenmore Capital, Kenmore Land and two Adam & Co funds.

A total of over 285,000 sq ft (26,477 sq m) of space has been let at office and industrial sites
across the UK. The lettings have all taken place over the last couple of months and will
generate a total combined income of approximately £2.7 million per annum, with lease terms
ranging up to 10 years. Tenants include IBM, Balfour Beatty, BMW Financial Services and MK Sports Cars.

Amongst the deals of note is the letting of 41,548 sq ft (3,860 sq m) at The Whittle Estate, Cambridge Road, Whetstone, in Leicester to Birkart Globalistics, at a rent of £140,000 per
annum. Other new occupiers to take space at the industrial park include Alstom Aerospace,
Kingsway Beds and Watling JCB, who have taken units on short lease terms at a combined rent of just under £40,000 per annum.

Kenmore also succeeded in securing a number of tenants at two other large industrial estates in the early part of the year. Five units were let at Vaughan Trading Estate in Tipton and seven units were let at Amber Industrial Estate in Alfreton. The latter agreement, on behalf of Kenmore Capital, was signed with occupiers including Seat Design and Citipost and comprised a total rent of approximately £159,000 pa.

Gregor Martin, Head of UK Asset Management for Kenmore, comments: "This high volume of lettings provides evidence of continuing occupational demand for well managed, accurately priced space, in the right locations."

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