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News Release

London

Jones Lang LaSalle appointed to sell part of Fairoaks Airport in Surrey

40 acre freehold investment comes to the market


London, 14th July 2010 – Acting on behalf of the joint Administrators, Jones Lang LaSalle has been instructed to find a purchaser for part of Fairoaks Airport, near Woking in Surrey.

Zelf Hussain of PricewaterhouseCoopers LLP (PwC), the lead administrator of Albermarle Fairoaks Limited, has instructed Jones Lang LaSalle’s National Investment team to bring part of the airport to market following the collapse of the company in February 2010.

The investment comprises a freehold site of approximately 40 acres accommodating a mix of hangar, office and warehouse space totalling approximately 161,391 sq ft, and also includes an area of approximately 30 acres of currently undeveloped green belt land.

David Emburey, who is leading the sale from Jones Lang LaSalle’s National Investment team, said: “This is a rare opportunity to acquire part of Fairoaks Airport; the site offers an attractive blend of income, asset management opportunities and potentially developable land.

“The airport is well situated to cater for demand from business, flying schools, private enthusiasts and high net worth individuals, and we are confident an asset of this nature will appeal to investors, developers and potentially other airport operators seeking to expand into the South East.”

Joint administrator, Zelf Hussain of PwC, added: "This is a great opportunity for someone to acquire a site with a steady level of income and potential for further development in the future."

Jones Lang LaSalle will be seeking expressions of interest for the freehold site over the next few weeks.