Estates & General Managing Director Roger Dossett said: "Regent's Wharf represented our main holding in central London. The buildings, which were developed in the early 1990s, are well let to an excellent range of tenants and offer a good income profile. However, our strategy is to sell assets where the opportunity to add further value is limited in the short to medium term. This sale releases additional resources that will be re-invested in property that provides further opportunity to deliver increased shareholderreturn."
The deal was announced as E&G unveiled a strong set of results. In the year ended 31 December 2002, • Pre-tax profits were up 8.8% to £6.76 million and net asset value per share up from 207p to 220p.
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