BCPT Balanced Commercial Property Trust Limited

 
TIDMFCPT 
 
To:                               RNS 
From:                          F&C Commercial Property Trust Ltd 
LEI Number:               213800A2B1H4ULF3K397 
Date:                           14 December 2017 
 
F&C Commercial Property Trust Ltd ('FCPT') 
 
Purchase of One Cathedral Square, Bristol 
 
F&C Commercial Property Holdings Limited, a subsidiary of FCPT, has purchased a 
56,059 sq ft prime office in Bristol for GBP33.5 million, reflecting a net 
initial yield of 5.0 per cent. The property is fully let to the strong 
covenants of the University of Bristol and Dyson Technology on a WAULT of 12.4 
years to expiry and 7.6 years to break, generating rental income of GBP1,780,906 
per annum. The purchase was funded out of the company's existing cash reserves. 
Following the purchase, net gearing was 19.7 per cent. 
 
Commenting on the purchase, Fund Manager Richard Kirby said "This acquisition 
complements the portfolio's existing holdings and provides secure income that 
is backed by solid financial covenants, while also delivering an attractive 
yield. With current supplies of Grade A office space in Bristol at an all-time 
low and the city increasing in appeal to a broad range of commercial occupiers, 
we have confidence in the fundamentals supporting our ability to deliver both 
capital and income growth for our shareholders from this investment." 
 
 
 
All Enquiries: 
 
The Company Secretary 
Northern Trust International Fund Administration Services (Guernsey) Limited 
Trafalgar Court 
Les Banques 
St Peter Port 
Guernsey 
GY1  3QL 
 
Tel: 01481 745001 
Fax: 01481 745051 
 
 
Richard Kirby 
Scott Macrae 
F&C Investment Business Ltd 
 
Tel: 0207 628 8000 
Fax: 0131 225 2375 
 
 
 
END 
 

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