KEIF Kenmore Euro

 

TIDMKEIF 
 
RNS Number : 5795C 
Kenmore Euro Industrial Fund Ltd 
16 November 2009 
 

16 November 2009 
 
 
 
 
Kenmore European Industrial Fund ("KEIF"/ "Fund') 
 
 
KENMORE EUROPEAN INDUSTRIAL FUND COMPLETES 
FURTHER PARIS DISPOSAL 
 
 
Kenmore European Industrial Fund is pleased to announce that it has sold 3 Rue 
de Bondy, in Aulnay-sous-Bois in France, to a private investor for a net price 
of approximately EUR1.14 million, which is 1.4% below the June 2009 valuation. 
 
 
The property comprises 7,675 sq ft (713 sq m) arranged as three floors (first, 
second and fourth floors) of offices in a mixed-use building which are owned by 
KEIF, with the ground and third floors in separate ownership.  Located in the 
north-eastern suburbs of Paris, in the centre of Aulnay-sous-Bois, the property 
is situated approximately 14k from the centre of Paris and close to motorway 
connections and Charles de Gaulle airport. 
 
 
Kenmore has maintained a high occupancy level for this asset and, following the 
recent re-letting of the fourth floor, the building is now fully let and 
therefore provides limited opportunities to gain additional value through asset 
management. 
 
 
Rob Brook, Managing Director of Kenmore Financial Services Limited, commented: 
"This further sale once again illustrates the disposal strategy successfully 
adopted by KEIF to dispose of assets considered non-core and where no further 
opportunities remain for significant value uplift through asset management 
initiatives." 
 
 
BNP Paribas acted for KEIF on the sale of the asset. 
 
-ENDS- 
 
 
For further information, please contact: 
 
 
Denise Hamilton, Marketing Manager, Kenmore Financial Services Limited 
0131 226 9000 
denise.hamilton@kenmore.co.uk 
 
 
Dido Laurimore / Olivia Goodall, Financial Dynamics 
Tel: 020 7831 3113 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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