HJ Commercial Plc
GXG : HJC

June 10, 2015 06:25 ET

HJ Commercial plc: Property purchase

HJ Commercial PLC
Property purchase

The  Directors of HJ Commercial plc are delighted to announce that the company has exchanged  contracts  to
acquire Spectrum, a building in Bond Street, Bristol, from West Register for £14.1m.

The  office  building  measures 114,200 sq ft and is located within the City  core  opposite  Cabot  Circus
shopping  centre.  The  purchase  price  reflects  £123 capital  value  per  square  foot  and  provides  a
refurbishment  and repositioning opportunity, having approximately 67,000 sq ft that require  refurbishment
and  leasing; in a market that is experiencing rental growth and limited office supply due to take  up  and
conversion to alternative uses.

The  plan is to create a new café within the building for informal meetings in line with occupier needs and
refurbish vacant space, prior to letting a repositioned product.

Deloitte Real Estate and Freeth's acted for HJ Commercial PLC, whilst Knight Frank and Simmons and  Simmons
represented West Register. Additional funding for the purchase will be drawn from a facility with a  listed
property fund.

The Directors of the Issuer accept responsibility for the contents of this announcement.

FOR FURTHER INFORMATION PLEASE CONTACT:

Mark Stephen - CEO
HJ Commercial plc
Telephone: +44 203 651 8300


GXG Corporate Advisor
Nick Michaels and Jon Isaacs
Alfred Henry Corporate Finance Limited
www.alfredhenry.com
Tel: +44 207 251 3762


10 June 2015

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