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Wereldhave Sells Three Office Buildings in Europe

THE HAGUE, The Netherlands, Dec. 19, 2012 (GLOBE NEWSWIRE) -- In Paris, France, Wereldhave has reached agreement on the sale of an office development in Joinville-le-Pont. The building, which is expected to be completed by the end of 2013, will be acquired at completion by a French bank for a consideration of [Eur] 91.5 mln, which is well over 25% above Wereldhave's cost price.

As part of the ongoing sales program of non-core assets, Wereldhave sold two other properties during the fourth quarter. The proceeds will be used to reduce Group debt.

In the United Kingdom, Wereldhave sold an office building at Dean Street in London for GBP 20.7 mln, which is GBP 4 mln above book value.

In Belgium, Wereldhave has reached agreement on the disposal of the Orion office building in Brussels for EUR 11.7 mln, equal to book value. Completion of this transaction is scheduled to take place before year end.

Early in December, 2012, Wereldhave has taken further steps to reduce general costs. The number of jobs in Europe will decrease by 15 from 138 to 123.

In the second quarter of 2013, Wereldhave will move its Head Office to WTC Schiphol.

Richard W. Beentjes
Tel. + 31 70 346 93 25
richard.beentjes@wereldhave.com
Jaap-Jan Fit
Tel. + 31 70 307 45 43
Jaapjan.fit@wereldhave.com

Source:Wereldhave