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."
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For further information please visit www.secure-property.eu or contact:
Lambros Anagnostopoulos Constantinos Bitros |
SPDI |
Tel: +357 22 030783 |
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Andrew Emmott Ritchie Balmer |
Strand Hanson Limited |
Tel: +44 (0) 20 7409 3494 |
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Lottie Brocklehurst Frank Buhagiar |
St Brides Partners Ltd |
Tel: +44 (0) 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.
