Dawnay, Day Carpathian PLC
26 October 2005
Dawnay, Day Carpathian announces Second Transaction:
purchase of Antana Warehouse Park, Hungary for €21m
Dawnay, Day Carpathian PLC ("DDC" or "the Company"), the retail commercial
property investment company established to invest in Central and Eastern Europe,
is pleased to announce it has completed its second transaction, the purchase of
the Antana Warehouse Park in Hungary for €21 million. The Company listed on the
AIM market in July 2005 and raised new funds to create a geared €1billion
portfolio of retail properties. DDC's first transaction, the purchase of four
shopping centres for €64.5m in Poland, was announced on 30 September 2005.
The Antana Warehouse Park is located in Budapest and comprises eight light
industrial and office units. Negotiations are in progress over redevelopment of
the site to create a shopping and leisure complex of approximately 600, 000 sq
ft. The site is well located on the relatively affluent Western side of Budapest
and is easily accessible via the M1 motorway. Antana is adjacent to a Tesco
superstore and is close to Ikea, Dixons and Porsche. The net initial yield is
approximately 8.36%.
Commenting on this announcement, Peter Klimt of Dawnay, Day Carpathian said:
"This is a good example of the series of property transactions that we aim to
complete, as it demonstrates the Group's strategy and ability to invest in
property with retail potential in established sites."
DDC was created to invest in commercial retail properties such as shopping
centres, supermarkets and retail warehousing in several target countries in
Central and Eastern Europe, including Bulgaria, Czech Republic, Hungary, Poland,
Romania, and Slovakia.
Enquiries:
Dawnay,Day Carpathian PLC Peter Klimt 020 7834 8060
Paul Rogers
Cardew Group Tim Robertson 020 7930 0777
Catherine Maitland
This information is provided by RNS
The company news service from the London Stock Exchange