The portfolio comprises 19 properties providing approximately 8million sq ft on 500 acres of land. The sites are in Rugby;Lincoln; Stafford; Birmingham; Milton Keynes; Eastleigh; Manchesterand Preston with two sites in Scotland. The leaseback structureprovides operational efficiency for Alstom with leases varyingbetween 5 and 15 years in length.

The partnership structure means that once space becomes surplusto Alstom's requirements it can be let on a short or long termbasis, and land will be brought forward for development whereopportunities arise.

Key Property Investments Chairman Richard Froggatt said: "Thisis a long term partnership arrangement and we are looking forwardto working with Alstom. Partnerships are at the heart of ourbusiness and this deal means that we have added another 500 acresto our hopper."

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