13 November 2009 - MGPA, the private equity real estate investment advisory company, announces that it has agreed a new lease with manufacturer Invacare UK Limited for a 151,546 sq ft Unit at Pencoed Technology Park, Bridgend. This is one of the most significant industrial transactions in South Wales this year.

MGPA is pleased to attract an occupier of Invacare’s stature. MGPA has undertaken a significant refurbishment programme in order to improve the building and secure new occupiers, and as such Invacare is able to move into a unit tailor made for its business requirements. The letting is the third over the past 12 months, and follows recent lettings to Dekor Plc., and BBI Medical with over 250,000 sq ft let, leaving just 54,000 sq ft of industrial accommodation vacant within the 800,000 sq ft complex.

Andrew Rose, MGPA’s asset manager responsible for the investment, said, “Within the past year we are delighted to have signed three new leases for 250,000 sq ft at Pencoed which greatly demonstrates our commitment to provide units tailor-made for the individual requirements of the tenants. We will now focus on leasing the remaining 54,000 sq ft of industrial accommodation”.

King Sturge and Watts & Morgan are retained letting agents for MGPA and Chris Sutton, Partner at King Sturge, believes that this transaction is one of the most significant industrial transactions in South Wales this year. “This 151,546 sq ft letting confirms the trend of high quality occupiers preferring modern floorspace in highly accessible locations. This letting follows recent lettings to Smiths News, Veolia Transport and City Link – all taking well specified units in close proximity to motorway junctions in South Wales”.

MGPA

MGPA is an independently managed private equity real estate investment advisory company focused on real estate investment in Europe and Asia. Through its network of offices throughout Europe and Asia, MGPA currently manages US$10.4 billion in assets throughout these two regions. Its managed investments include development and redevelopment projects, joint-ventures and real estate operating companies in the office, retail, industrial, residential and hotel sectors. MGPA is owned by its senior management team and the Macquarie Group, a diversified international provider of banking, financial, advisory and investment services, headquartered in Sydney, Australia. For more information about MGPA please visit www.mgpa.com.

Pencoed

Technology Park Constructed in 1993 for Sony, the Pencoed Technology Park is prominently located within half a mile of Junction 35 of the M4 motorway, on the eastern side of Bridgend. The property formed part of a portfolio of eight properties acquired by MGPA for €121 million, comprising offices and logistics properties spread across the UK, Italy, the Netherlands, Belgium, Switzerland and Germany. Sony leased back 65% of the 800,000 sq ft Pencoed facility and the recent Invacare letting now means just 54,000 sq ft remains vacant within the main unit at Pencoed.