Terrace Hill Group - Industrial Development - London N18, Edmonton

Date: 26 May 2004

Terrace Hill Group, the AIM-listed investor and developer, has exchanged contracts to purchase an industrial development site in Edmonton, London N18 from Rayner & Company Limited, for approximately £5 million.

The 1.7 hectare (4.2 acre) site in Bull Lane, comprising 12,820 sq m (138,000 sq ft) of existing industrial space, is to be leased back to Rayner & Company Limited for a period ending 31 August 2005, at an agreed rent of £300,000 pa rising to £500,000 pa after June 2005. The occupier has an option to break from March 2005.

Terrace Hill purchased the site for future redevelopment.

CBRE represented Terrace Hill while Lambert Smith Hampton acted on behalf of Rayner & Company Limited.

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