McKay Securities. - Acquisition at Brooklands

RNS Number:2271W
McKay Securities PLC
08 May 2007


                              McKAY SECURITIES PLC

                                 PRESS RELEASE


       Acquisition at Brooklands, with leaseback to Yamaha Motor (UK) Ltd


McKay Securities PLC have acquired the freehold of a 60,000 sq ft (GIA) office /
industrial unit on the Brooklands Industrial Estate, Weybridge from Yamaha Motor
(UK) Ltd for a price in the region of £6.5 million. Yamaha have taken a
leaseback of the office content of the building for a five year term, and have
guaranteed rent and outgoings in respect of the vacated 38,200 sq ft warehouse
unit for at least nine months, providing an initial yield to McKay of 7.2%.

The building was constructed for Yamaha in 1991 for head office, storage,
distribution and training functions. Having decided to relocate their
distribution to mainland Europe, the sale and leaseback of part has assisted
Yamaha with this strategy.

Commenting on the purchase, Simon Perkins, Managing Director of McKay said 'we
are delighted to have acquired this good quality building on the Brooklands
Estate. We look forward to working with Yamaha over the next few years and will
look to improve on our initial yield with the short term letting of the
warehouse unit, before marketing the whole in five years time. Being inside the
M25 and close to Heathrow there are encouraging prospects for rental growth, and
with neighbouring retail uses the possibility exists for redevelopment in the
longer term'.


Paul Miller and Company represented Yamaha Motor (UK) Ltd.

Background Information

McKay Securities PLC is a Real Estate Investment Trust specialising in the
development and refurbishment of quality commercial buildings within established
and emerging growth areas of Central London and the South East of England.
Completed projects are retained and managed for long term growth within the
Group's portfolio, valued in excess of £285m (at 31st March 2006).


Contact

McKay Securities PLC - 0118 950 2333
Simon Perkins, Managing Director
Steven Mew, Portfolio Director

Paul Miller - 0207 636 8444


8th May 2007


                      This information is provided by RNS
            The company news service from the London Stock Exchange

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