Warburg – Henderson KAG acquires further retail property in Austria
Retail warehouse in Neusiedl near Vienna purchased

Warburg - Henderson Kapitalanlagegesellschaft für Immobilien mbH, Hamburg, has acquired the retail warehouse "Pannonia Shopping Park" in Neusiedl am See for around €14m for its Österreich Fonds Nr. 1. The Fund currently owns four retail properties after acquiring the shopping centre "City Point" in Steyr, the retail warehouse "Atriummarkt Alt Erlaa" in Vienna and the Designer Outlet Centre "DOC-Galerien" in Parndorf.

The retail warehouse "Pannonia Shopping Park" is located approx 35 minutes by car south-east of Vienna, directly on the motorway A4 (Vienna - Budapest) and provides a lettable accommodation of around 7,900 sqm and 301 parking spaces. The property consists of two building parts. The first part was opened in September 2006 and is fully let to dm drogerie markt (chemist), Reno Schuhe (shoes), Takko Modemarkt (clothing) and KIK Textilien (clothing) amongst others. The second part will be opened in March of this year and is also fully let.

"With the acquisition of the "Pannonia Shopping Park" we have succeeded in securing one of the leading retail warehouses located in a growth area of Eastern Austria at the three-country triangle Austria, Hungary and Slovakia." says Richard Weberberger, Managing Director of Henderson Global Investors Immobilien Austria GmbH, Vienna, who advised on the transaction as the Asset Manager for the Fund.

The Warburg - Henderson Österreich Fonds Nr. 1 has so far acquired nine properties in Neusiedl, Parndorf, Steyr and Vienna with a total current market value of over €200m. The acquisition of a further retail property for the Fund is imminent. The KAG will continue its Austrian investment programme in 2007 and is preferably seeking office properties in Vienna and other main cities as well as retail properties across Austria.

Warburg - Henderson KAG specialises in the creation and management of pan-European property Spezialfonds. The company applies a professional investment process, leading-edge property research and has excellent local market access in Europe. It was founded in 2001 as a joint venture between M.M.Warburg & CO, Hamburg, and Henderson Global Investors, London. Warburg - Henderson KAG has launched eight property funds since December 2002 with German and international institutional investors.

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