McKay Securities plc has announced that it has acquired 66 Wilson Street, London, EC2 for £3.6 million. The property totals 12,345 sq ft of office accommodation arranged over lower ground, ground and three upper floors. The entire property is let to Gerrard Investment Management at a passing rent of £375,000 pa until June 23, 2013, and sub-let to TNS plc The initial yield on the property is 9.9%. The building occupies a prominent corner location at the northern end of Wilson Street, on the junction with Dysart Street. It was built in 1988 to a high standard, with marble and Portland stone external cladding. Internally the regular floor plates have excellent natural light as a result of the corner location and generous floor to ceiling heights. The building has the potential for rental and capital growth through refurbishment at lease expiry. It is situated just to the north of Broadgate and Finsbury Square, in close proximity to the Old Street roundabout, now known as Silicon Roundabout being at the heart of the area labelled as Tech City. This improving market has successfully attracted a growing number of new and established TMT sector tenants. The area also benefits from excellent transport links, with Liverpool Street, Shoreditch High Street, Moorgate and Old Street stations all located nearby. Connectivity will be further enhanced with the completion of Crossrail in 2016.

McKay Securities plc reported unaudited consolidated earnings results for the six months ended September 30, 2012. For the period, the company reported operating profit of £7,621,000 against £5,490,000 a year ago. Loss before taxation was £2,702,000 against £13,985,000 a year ago. Loss for the period was £2,702,000 or 5.89 pence per basic and diluted share against £13,985,000 or 30.48 pence per basic and diluted share a year ago. Cash flows from operating activities were £2,403,000 against £2,963,000 a year ago. Purchase and development of investment properties was £6,382,000 against £809,000 a year ago. Purchase of other fixed assets was £16,000 against £8,000 a year ago. Adjusted profit before tax was £2,940,000 or 6.28 pence per diluted share against £2,502,000 or 5.22 pence per diluted share a year ago. EPRA NAV per share as at September 30, 2012 was 231 pence against 224 pence as at September 30, 2011. Net debt at September 30, 2012 was £104.52 million against £95.60 million a year ago. The company declared interim dividend of 2.7 pence per share against 2.7 pence per share a year ago. Ex-dividend date is November 28, 2012 and record date is November 30, 2012. Payment date is January 10, 2013.

McKay Securities plc announced that they will report Q2, 2013 results on Nov 20, 2012