McKay Securities. - Sale of Site at Chobham

RNS Number:1730F
McKay Securities PLC
26 June 2006


                                 PRESS RELEASE


              McKay Completes the Sale of Housing Site at Chobham


McKay Securities PLC is pleased to announce that it has completed the sale of
10.5 acres of residential development land, with detailed planning consent for
54 residential units, to Hodson Developments Ltd for £9.75 million.

After acquiring the site and developing a 50,000 sq ft distribution depot in the
1970's, McKay generated a significant uplift in value on obtaining planning
consent for residential use last year, after overcoming a complex and protracted
planning process, partly due to the site's greenbelt status.

Net sale proceeds are marginally in excess of book value at 31st March 2006, but
substantially in excess of the historical cost of £670,000.


Contact:

Simon Perkins - Managing Director
McKay Securities PLC
0118 950 2333

26th June 2006


                      This information is provided by RNS
            The company news service from the London Stock Exchange

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