AIM-listed property fund manager First Property Group has signed an agreement to purchase a warehouse under development in Radomsko, Poland, for an undisclosed amount. The property, purchased on behalf of the fund First Property manages for the Universities Superannuation Scheme, comprises a gross area of 48,000 m[sup]2[/sup]. The asset has been pre-let to Indesit, Europe's second largest manufacturer and supplier of kitchen appliances. The lease agreement is for a period of fifteen years. The warehouse is located 90 kilometers from Lodz and it is due to be completed during the second quarter of 2009.
AIM-listed property fund manager First Property Group has signed an agreement to purchase a warehouse under development in Radomsko, Poland, for an undisclosed amount. The property, purchased on behalf of the fund First Property manages for the Universities Superannuation Scheme, comprises a gross area of 48,000 m2. The asset has been pre-let to Indesit, Europe's second largest manufacturer and supplier of kitchen appliances. The lease agreement is for a period of fifteen years. The warehouse is located 90 kilometers from Lodz and it is due to be completed during the second quarter of 2009.
