PROPERTY NEWS

Aviva Investors and Warner Estate, on behalf of the Ashtenne Industrial Fund (“AIF”), have successfully raised £45 million of new equity in order to reduce its senior debt, and refinance its existing facility for a further four years with Royal Bank of Scotland and the Lloyds Banking Group.

Warner Estate Holdings PLC announces today that it has simultaneously exchanged and completed contracts for the sale of its St Johns Wood High Street estate to NW8 Holdings Limited for cash consideration of £39m.

Warner Estate Holdings PLC announces today that Agora Max Limited, a 50/50 Joint Venture with Halifax Bank of Scotland, has exchanged contracts for the sale of Pallasades Shopping Centre, Birmingham to Birmingham City Council for cash consideration of £91m.

Warner Estate Holdings PLC announces today that it has exchanged contracts for the sale of The Royals Shopping Centre, Southend.

Warner Estate Holdings PLC (“Warner Estate”) is pleased to announce that John Heawood has been appointed Managing Director of Ashtenne Asset Management, the division within Warner Estate responsible for the asset management of Ashtenne Industrial Fund (“AIF”). AIF is Fund Managed by Aviva Investors.