McKay Securities. - Lettings at Dacre House

RNS Number:6442V
McKay Securities PLC
27 April 2007


                              McKAY SECURITIES PLC


                                 PRESS RELEASE


               Lettings at Dacre House, Dacre Street, London, SW1


Following the comprehensive refurbishment of Dacre House, Victoria, McKay
Securities PLC has completed two lettings totalling 5,165 sq ft of office
accommodation with a combined contracted rent of £236,000 per annum. The
building, which was acquired by McKay in 1997 has 13,550 sq ft of office
accommodation on lower ground and five upper floors, with the refurbishment
including the remodelling of the reception and the conversion of surplus plant
rooms into additional floor space.


Aviate Global LLP, a hedge fund manager, has taken a ten year FRI lease of the
fifth floor (1,860 sq ft) with a tenant's break clause at the end of the fifth
year, at a rent of £95,000 per annum.


The lower ground and first floors, totalling 3,305 sq ft have been let to RGC
Jenkins & Co, Patent Agents, on similar lease terms at a rent of £136,000 per
annum, which equates to a rental value for the first floor of £49 psf.


Commenting on the lettings, Simon Perkins, Managing Director of McKay Securities
PLC said 'the availability of refurbished floor space at Dacre House has
generated considerable interest from local occupiers and from those looking for
affordable quality from the West End. We are pleased to welcome both companies
to the building at terms which support our confidence in the scheme, and we are
encouraged by the level of interest in the three remaining floors'.


Mellersh & Harding represented McKay, and Adams Burnett represented RGC Jenkins
& Co.


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

Mellersh & Harding - 020 7499 0866
Jonathan Stern


27th April 2007


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

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