Rugby Estates Investment Trust has purchased the entire issued share capital of JRPA Properties (JRPA) from private investors for almost 18 mln (EUR 26 mln). The deal is the second aquisition by the UK company following the completion of its £50 mln placing on London Stock Exchange in May 2007. JRPA is a property investment company which holds a portfolio of seven commercial investment properties situated in southern England.
Rugby Estates Investment Trust has purchased the entire issued share capital of JRPA Properties (JRPA) from private investors for almost 18 mln (EUR 26 mln). The deal is the second aquisition by the UK company following the completion of its £50 mln placing on London Stock Exchange in May 2007. JRPA is a property investment company which holds a portfolio of seven commercial investment properties situated in southern England.
The JRPA portfolio comprises a 1,115 m2 office investment in Southampton and six industrial estates in London, Surrey, Sussex, Hampshire and Dorset. The industrial holdings total 13,564 m2 of accommodation in 60 units. Total current rental income is £1.2 mln with scope for future growth to over £1.5 mln.
The audited accounts of JRPA and its subsidiary as at 31 March 2007 show property assets of £18.3 mln.
Rugby Estates Investment Trust intends to become a real estate investment trust (REIT) once sufficient properties have been acquired to satisfy the regulations. Rugby Asset Management acts as property advisor to Rugby Estates Investment Trust.
