RNS No 1371w
BIRKBY PLC
10th July 1998
                                  BIRKBY PLC
                                       
                          EXPANDS NATIONAL PORTFOLIO

           One million square feet of commercial space now added in
                   first three months of new financial year

Birkby  plc,  the  provider  of  serviced  workspace  and  retailspace,  today
announces  the acquisition of a portfolio of 11 sites in the north-east,  from
Easington District Council for a total consideration of #3.7 million in  cash.
The  acquisition  comprises over 275,000 sq ft of workspace divided  into  109
units  and follows the announcement on 7 July of Birkby's trading results  for
the year to 31 March 1998.

The purchase is the latest in a series of acquisitions the group has completed
in  the first three months of its new financial year. During this time, Birkby
acquired  10 sites totalling approximately 760,000 sq ft - including Glenfield
Park,  the  largest private workspace operator in Lancashire.   The  aggregate
cost  of  the  acquisitions  was #9.8 million.  In  total  and  including  the
Easington sites, the group has expanded its portfolio by over 1 million sq  ft
in  the  new  financial year.  This is significantly ahead of the same  period
last year.

The  current  income  level  of the Easington sites  stands  at  approximately
#550,000.   In  addition,  a number of the sites include  surplus  land  which
provide   the  group  with  further  scope  for  development.   The  portfolio
complements Birkby's existing network of sites in the north-east and  will  be
incorporated at negligible cost.

This  acquisition highlights Birkby's commitment to working closely with local
councils  and  development  organisations to encourage  economic  regeneration
through the provision of low cost, flexible space to small businesses.

Bill Cran, Chief Executive of Birkby, commented;

"This  acquisition  reflects  the  excellent  working  relationship  we   have
established  with  Easington  District Council and  we  are  delighted  to  be
incorporating  these 11 sites into our north-eastern portfolio. The  Easington
portfolio  marks  a  milestone  in  our acquisitions  programme  for  the  new
financial  year  as  it brings the total amount of commercial  space  we  have
purchased in the first three months of the year to over 1 million square feet.
We  are  confident  that Easington, along with our other new  purchases,  will
yield our target investment return within 12/18 months.

"We  currently  have  a further 17 sites under offer and  I  look  forward  to
providing details of our progress in due course."

For further information:
Birkby  plc                                                Tel: 0121  778 2233
Bill Cran, Chief Executive
Kim Taylor-Smith, Deputy Chief Executive


END

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