Blackrock announces property acquisitions
06 Jul 2006
Blackrock International Land plc, which listed on 15 May 2006, is pleased to announce the acquisition of two new properties:
- Lands comprising 31 acres located at Broxburn, Scotland, which is expected to form part of a major mixed-use development scheme by the Group in the area. The land adjoins Blackrock's existing holding in this expanding suburb of Edinburgh. The acquisition brings the Group's total acreage at this location to 105 acres.
- Premises comprising 34,000 square feet of modern warehouse and office accommodation located at Willsborough Industrial Estate, Dublin. The property is let to a subsidiary of British Telecom Group plc for an unexpired term of 18 years at a rent of €301,563 per annum, with a rent review outstanding since 2005.
The combined initial consideration being paid for these two properties is just over €9 million.
Commenting on the acquisitions, Blackrock Chairman Carl McCann said:
"We are pleased to have concluded these additions to the Group's property portfolio. We have a number of other transactions under consideration at this time and are hopeful of further announcements later this year."
Contacts
Brian Bell, Wilson Hartnell PR
Tel: +353-1-669 0030
