Commercial property in the UK continues to yield sound returns, reports the JV between Pam Golding Commercial and Athanor International Property Investments, which since January this year (2005) has facilitated the acquisition of UK commercial properties worth GBP 30 million. The UK market for such investments with reliable, low risk investment opportunities and high returns is underpinned by an ongoing strong demand for good commercial properties.

According to ResearchWorldwide.com, which monitors the commercial real estate market in 15 of the major countries around the world, the UK commercial property market performance for the year ending July 2005 was 1.8 times higher than the average for commercial property in these countries, and over four times higher than the UK housing market.  The past quarter has continued to see a hardening of yields across all commercial sectors, following increased demand from investors seeking value.

The Athanor/Pam Golding Commercial JV's strong track record as recurrent investors with a reputation for adding significant value to commercial property provides them with a distinct competitive advantage when acquiring blue chip commercial properties to be offered to investors.  The company's high calibre team has received a further boost with the recent addition of Arnold Urson, who was previously an international partner with Accenture. With responsibilities that include management of the operations, he brings to the JV considerable experience in managing a successful business.

Says Eric Mounier, CE of the Athanor/Pam Golding Commercial JV: "We continue to achieve extremely sound returns which range from 20 percent to as high as 50 percent per annum, in periods of two to five years, despite the fact that projected returns for the anticipated five year period of the investment are a healthy 10 percent per annum.

"At the vibrant West End Quay - a landmark commercial and retail development situated in the hub of London's Paddington Basin and one of central London's major regeneration areas, an increase in value of some 30 percent has been achieved for investors in just a year. At another prime commercial building, The Lyceum in Colchester, acquired only three years ago, such is the capital growth achieved on this investment, that the building has been revalued and regeared, resulting in 50 percent of their investment being available to investors - while they still retain ownership of the property.  Our most recent offering, a signature 4000sqm office building situated within Daresbury Park in Cheshire, England and tenanted by head office of British Nuclear Fuels Ltd plc, was over subscribed - as is the case with all our commercial property investments," says Mounier.

While the current portfolio, managed for investors around the world, covers prime located buildings in the UK, the JV is now looking further afield. Comments Mounier:  "While our focus to date has been on commercial property investments in the UK, we have been assessing value creation opportunities throughout Europe.  We believe that Germany has exciting investment prospects and are in an advanced stage of establishing our first commercial property investment opportunities there in the appropriate sectors, in addition to securing yet another prime UK commercial property."

In Germany, quality properties are available with good covenants and long leases.  Retail consumption is poised for growth with savings at an all-time high, and consumer confidence rising. Cheap lending is available, and there is a strong political mandate to stimulate the domestic economy. Rentals in selected areas have increased by as much as 40 percent over the past 10
years.

Ends

Issued by Gaye de Villiers

Tel: 021 6837788 or 083 325 1939

On behalf of Pam Golding Commercial/Athanor Offshore Property