HIGHCROFT INVESTMENTS PLC

15 May 2015

Corporate and Property Acquisition

Highcroft Investments PLC is pleased to announce that, through its property owning subsidiary, Rodenhurst Estates Ltd, it acquired, on 14 May 2015, the entire issued share capital of B L (Wisbech) Ltd together with its wholly owned subsidiary Belgrave Land (Wisbech) Ltd from its six private shareholders.

B L (Wisbech) Ltd and Belgrave Land (Wisbech) Ltd own a single asset, the Belgrave Retail Park in Wisbech, Cambridgeshire, which comprises a freehold retail warehouse park totalling 56,082 sq ft of space fully let on average weighted unexpired lease terms in excess of 10 years to the covenants of Dunelm, Halfords, Carpetright, Pets at Home and Currys PC World. The property produces an income of £620,585 pa and the gross cost, excluding fees, was £8,500,000; the resultant net yield is approximately 7.1%.

Rodenhurst Estates Limited has drawn an additional £7,500,000 fixed term, non-amortising loan, secured on this asset and certain other property assets, to fund this transaction and the remainder of the consideration is funded from existing cash resources.

Commenting on the acquisition Chief Executive Simon Gill said: "We are pleased to increase the retail warehouse sector weighting of our portfolio with what can be considered a very attractive yield in today's market and with a good line-up of tenants. Being able to do an off-market deal in the current climate was very unusual and we were happy to be in a position to take advantage of the situation. The average weighted unexpired term on the leases is attractive and the park offers further development opportunities. I consider this is an excellent addition to the portfolio."

For further information, contact:

Highcroft Investments PLC

John Hewitt / Roberta Miles 01865 840023

Charles Stanley Securities

Dugald J. Carlean / Karri Vuori 0207 149 6000