Dawnay, Day Carpathian PLC
16 November 2005
Dawnay, Day Carpathian announces third Transaction: Purchase of Varyada Shopping
Centre, valued at €37 million
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 third transaction, the purchase of a
90% interest in the Varyada Shopping Centre in the Czech Republic. The Varyada
Shopping Centre has a property valuation of approximately €37.0 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 recently purchased four
shopping centres for €64.5 million in Poland, and the Antana Warehouse Park in
Hungary for €21.0 million.
The Varyada Shopping Centre is located close to the centre of Karlovy Vary, with
a total lettable area of approximately 18,200m2. Karlovy Vary is a well-known
spa resort located in the Western part of the Czech Republic approximately 2
hours drive from Prague and Nuremburg and is a popular destination for tourists.
The main tenants are the supermarket Interspar, Marks and Spencers and
well-known brands such as Tommy Hilfiger, Pierre Cardin, Benetton, New Yorker,
NafNaf and Helly Hansen.
Commenting on this announcement, Peter Klimt of Dawnay, Day Carpathian said:
"This is a very attractive deal for the Company as it is ideally situated in a
busy location with well established and well known tenants. We are in
negotiations with several other vendors and are confident of achieving our aim
to build a €1bn portfolio of commercial properties throughout Eastern Europe."
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