LOCAL INVESTORS SHOW CONFIDENCE IN STOKE PROPERTY MARKET

Stoke-on-Trent Regeneration Ltd, the joint venture partnership between St Modwen Properties PLC and Stoke City Council, has sold two further investments on its 400-acre Trentham Lakes development to a local property investor for a total of £780,000.

Chambers Estates, which looks to buy new stock let to high quality covenants, has bought a 5,050 sq ft industrial unit on Trentham Trade Park let to Eurocell Building Plastics Ltd on a ten-year lease.

It has also acquired a 2,300 sq ft office building in Trentham Business Quarter let to T and T Consultancy on a ten-year lease.

Andy Cox, development manager of St Modwen, described the deals as encouraging. "It is good to see that local investors are prepared to show confidence in the Stoke property market when we provide the right product at the right price."

Louis Taylor acted for St Modwen.

For further information contact Andy Cox of St Modwen (01782 281844). Issued by Paul Raymer of Howle Chapman Raymer (0121 313 1000).

Ref: MOD/61/08