ERET European Real E

TIDMERET

RNS Number : 3317P

European Real Estate Inv Tst Ltd

01 October 2013

European Real Estate Investment Trust Limited

1 October 2013

Portfolio Update

Notarisation of sale of property in Duren, Germany

The Board of European Real Estate Investment Trust ("the Group") is pleased to announce notarisation of the sale of its largest retail property in Germany, located in Duren. The property was sold for EUR 57.0 million and the price achieved was approximately 2% above the Company's June 2013 valuation.

The property is located in the centre of Duren. It is let to circa 50 tenants on a weighted average lease length of 4.7 yrs. The anchor tenant in the scheme is Saturn whose lease was recently extended on a long term basis.

The sale is expected to complete before year end. A further announcement will be made with regard to the use of the sale proceeds in due course.

This sale is consistent with the strategy announced by the Group to realise assets at the best value.

For further information, please contact:

Praxis Fund Services Limited

   Shona Darling                                                     Phone: +44(0) 1481 755528 

Cenkos Securities plc

   Dion Di Miceli                                                      Phone: +44 (0) 20 7397 1921 

Schroder Property Investment Management Ltd

   Duncan Owen / Tony Smedley                          Phone: +44(0) 20 7658 6000 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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