Alcatel-Lucent Completes EUR 124.5 Million Sale Leaseback of Business Park

Interactive Investor Web Site - December 27, 2006

Alpha Pyrenees has acquired, with IPGL Limited ("IPGL"), a 77,000 square metre business park comprising in total 20 office, warehouse and research and development buildings from SIVN (Societe Immobiliere Villarceaux Nozay). The deal is a sale and leaseback with Alcatel-Lucent with a 12 year lease with a minimum term of 9 years. The lease benefits from annual inflation-linked rent indexation.

The total consideration for the acquisition of the Business Park is Euro 124.5 million. The purchase consideration will be satisfied by the Company's and IPGL's existing cash resources and a new Alpha Pyrenees group debt facility. The total costs including acquisition costs are approximately Euro 130.9 million. The total rent from the Business Park will be approximately Euro 9.6 million per annum giving an annual rental yield of approximately 7.3 per cent including costs. Sphere: Related Content