RNS Number : 4937J
Raven Property Group Limited
05 December 2018

5 December 2018



Raven Property Group Limited ("Raven" or the "Company")




The Board of Raven is pleased to announce that a subsidiary of the Company has entered into a conditional agreement ('the Agreement") for the acquisition of a completed warehouse in Nizhny Novgorod, a city 400 km east of Moscow, together with 21.5ha of adjacent land from a fund managed by Amstar. The warehouse complex of 64,375sqm is fully let with a weighted average unexpired lease term of 8.4 years, the majority of space let to ZAO "X5 Nedvizhimost". Consideration for the acquisition is Roubles 2.8 billion with expected annual income of Roubles 347 million giving an initial yield of 13.7% on the completed asset. The acquisition is subject to the satisfaction of certain escrow arrangements.


Glyn Hirsch, Chief Executive of Raven said: "We are delighted to acquire this quality asset on a very attractive yield"






Raven Property Group Limited                                                               Tel: + 44 (0) 1481 712955

Anton Bilton                                                                                       

Glyn Hirsch


Novella Communications                                                                        Tel: +44 (0) 203 151 7008

Tim Robertson

Toby Andrews


N+1 Singer                                                                                              Tel: +44 (0) 20 7496 3000  

Corporate Finance - James Maxwell / James Moat

Sales - Alan Geeves / James Waterlow


Numis Securities Limited                                                                         Tel: + 44 (0) 207 260 1000

Alex Ham / Jamie Loughborough / Alasdair Abram


Renaissance Capital (South Africa)                                                         Tel: +27 (11) 750 1448

Yvette Labuschagne


Renaissance Capital (Moscow)                                                               Tel: + 7 495 258 7770

David Pipia


Ravenscroft                                                                                              Tel: + 44 (0) 1481 729100

Jade Cook


About Raven Property Group


Raven Property Group Limited was founded in 2005 to invest in class A warehouse complexes in Russia and lease to Russian and International tenants. Its Ordinary Shares, preference shares and warrants are listed on the Main Market of the London Stock Exchange and admitted to the Official List of the UK Listing Authority and the Official List of The International Stock Exchange ("TISE"). Its Ordinary Shares also have a secondary listing on the main board of the Johannesburg Stock Exchange and the Moscow Stock Exchange. Its convertible preference shares are admitted to the Official List of TISE and to trading on the SETSqx market of the London Stock Exchange. The Group operates out of offices in Guernsey, Moscow and Cyprus and has an investment portfolio of circa 1.8 million square metres of Grade "A" warehouses in Moscow, St Petersburg, Rostov-on-Don and Novosibirsk and 49,000 square metres of commercial office space in St Petersburg. For further information visit the Company's website: www.theravenpropertygroup.com


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