Secure Property Dev & Inv PLC Successful Provision of Asset Management Services
May 30 2017 - 1:02AM
RNS Non-Regulatory
TIDMSPDI
Secure Property Dev & Inv PLC
30 May 2017
Secure Property Development & Invest PLC/ Index: AIM / Epic:
SPDI / Sector: Real Estate
30 May 2017
Secure Property Development & Investment PLC
('SPDI' or 'the Company')
Successful Provision of Asset Management Services - Receipt of
over EUR100,000
Secure Property Development and Investment PLC (AIM: SPDI), the
South Eastern European focused property and investment company, is
pleased to announce that it has received over EUR100,000 net of VAT
("the Fee") for the provision of asset management services to a
third party in Romania.
In addition to managing its own core portfolio of income
generating prime real estate in South Eastern Europe, the Company
makes its asset management expertise available to third parties. In
line with this, SPDI was contracted in Q3 2016 to provide leasing
and sales advisory services for a Class A office building in the
centre of Bucharest, Romania. As part of the contract and within a
period of a few months, SPDI increased the occupancy of the 10,000
sqm office building to almost 100%. SPDI also acted as an adviser
to the owner in the recent sale of the building. For the provision
of such services, including the sale of the building, the Company
received the Fee.
Lambros G. Anagnostopoulos, Chief Executive Officer, said, "The
quick uptake of almost full occupancy of this office building in
Bucharest and its subsequent successful sale not only demonstrates
our prowess in leasing and sales advisory services, but also
highlights the flourishing property market in Romania, which is
currently the fastest growing economy of the European Union.
"SPDI has its own portfolio of income producing assets in
Romania, which include a logistics terminal and offices in
Bucharest, as well as a retail Big Box property in Craiova. Asset
management is therefore a core discipline of the SPDI team.
Outsourcing our expertise to third parties can not only generate an
additional revenue stream for the Company, it also helps to further
build SPDI's growing reputation as a leading player in the region's
rapidly-emerging property market."
* * ENDS * *
For further information please visit www.secure-property.eu or
contact:
Lambros Anagnostopoulos SPDI Tel: +357 22
Constantinos Bitros 030783
Andrew Emmott Strand Hanson Tel: +44 (0)
Ritchie Balmer Limited 20 7409 3494
Lottie Brocklehurst St Brides Partners Tel: +44 (0)
Frank Buhagiar Ltd 20 7236 1177
Notes to Editors
Secure Property Development and Investment plc is an AIM listed
property development and investment company focused on the South
East European markets. The Company's strategy is focused on
generating healthy investment returns principally derived from: the
operation of income generating commercial properties and capital
appreciation through investment in high yield real estate assets.
The Company is focused primarily on commercial and industrial
property in populous locations with blue chip tenants on long term
rental contracts. The Company's senior management consists of a
team of executives that possess extensive experience in managing
real estate companies both in the private and the publicly listed
sector, in various European countries.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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