STENPROP LIMITED - Stenprop buys UK multi-let industrial estate

Stenprop buys UK multi-let industrial estate

STENPROP LIMITED
(Incorporated in Bermuda)
(Registration number 47031)
BSX share code: STP.BH JSE share code: STP
ISIN: BMG8465Y1093
(“Stenprop” or the “company”)


STENPROP BUYS UK MULTI-LET INDUSTRIAL ESTATE


Shareholders are advised that Stenprop completed the acquisition of a modern and well-located industrial estate near
Manchester in the north west of England for £2.2 million in line with its stated strategy to focus on UK multi-let industrial
(MLI) property.

The estate, Globe Park, comprises 17 units totalling 38,000 sq ft. It is located in Moss Bridge Road in the canalside
industrial area of Rochdale, Greater Manchester, close to junctions 20 and 21 of the M62 motorway.

The acquisition reflects a net initial yield of 6.5%. The average passing rent of the leased space is £4.50 per sq ft.

Globe Park is a good addition to Stenprop’s growing MLI portfolio, as it is a high-quality, modern estate in an area let
off low rents and with favourable demand-supply dynamics that the company believes will lead to strong rental growth.

This announcement is voluntary and for information purposes only.

Stenprop has a primary listing on the Main Board of the Johannesburg Stock Exchange (“JSE”) and a secondary listing
on the Bermuda Stock Exchange.

29 January 2018


JSE sponsor
Java Capital


Bermuda Stock Exchange sponsor
Estera Securities (Bermuda) Limited

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