ERET European Real E

TIDMERET

RNS Number : 0705B

European Real Estate Inv Tst Ltd

02 October 2015

European Real Estate Investment Trust Limited

2 October 2015

Sale of retail property in Kaiserlsautern, Germany

The Board of European Real Estate Investment Trust ("the Group") is pleased to announce that following the extension of the ground lease interest to a 99 year fixed term, the sale of the retail property located in Kaiserslautern, Germany has been notarised at a price of EUR24.0 million. The sale price of EUR24.0 million represents a 12% premium to the Group's June 2015 valuation. As at 30 June 2015, the property in Kaiserslautern represented 40% of the Group's portfolio value. Located on the high street the property is fully income producing and is let to Peek & Cloppenberg, H&M and Ernstings Family.

The sale is consistent with the strategy announced by the Group to realise assets at prices in the best interests of shareholders. The sale is expected to complete at the end of the calendar year.

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

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