CMGP Comm. Prop. (SEE LSE:CGA)

RNS Number:7532W
Commercial Group Properties PLC
17 May 2007




17 May 2007

                        Commercial Group Properties PLC
                  ("Commercial Group", "CGP" or "the Company")

 10 year lease agreed with Chinese partner for 1 million sq ft at Manston, Kent


Commercial Group Properties PLC, the recently AIM-listed property development
company, announces that a lease has been agreed, at a rent which the Directors
of CGP believe to be at least in line with the market rate, with the Beijing
Association of SME ("the Tenant"), for between 900,000 sq ft and 1,100,000 sq ft
of business accommodation at Manston International Business Park, one of the
Company's development properties. The lease is for a period of 10 years from
handover to the Tenant on the completion of the building contract which is
expected to be within 18 months.

Chinamex Middle East Investment & Trade Promotion Centre ("Chinamex") is
standing as the "surety" to the agreement. Chinamex is an official arm of the
People's Republic of China.

The Directors of CGP believe that this lease will add significantly to the value
of CGP's property portfolio. A further announcement will be made as soon as
practicable regarding an independent revaluation of the Manston site.


                                      Ends


For further information, please contact:



Commercial Group Properties PLC                  +44 (0) 1843 860 866
Ken Wills

Beaumont Cornish Limited                         +44 (0) 20 7628 3396
Roland Cornish

Holborn Public Relations                         +44 (0) 20 7929 5599
David Bick, Mark Longson






                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
AGRSFASSWSWSEDI

Comm. Prop. (SEE LSE:CGA) (LSE:CMGP)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024

Comm. Prop. (SEE LSE:CGA) (LSE:CMGP)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024