ASX ANNOUNCEMENT

12 November 2013

FOLKESTONE COMMENCES STAGE 1 AT MILLERS ROAD, ALTONA NORTH AND ANNOUNCES NEW INCOME FUND

Folkestone Limited (ASX:FLK) is pleased to announce the commencement of Stage 1 of the Millers Road, Altona North development and the sale of the development to a new unlisted fund - the Folkestone Real Estate Income Fund at Altona North ("the Fund").
The 21,500 square metre large format retail centre ("the Centre") will be anchored by Bunnings and includes Officeworks, together with JB HiFi, Repco, PETstock and petVet. Folkestone is also pleased to announce that it has entered into a contract of sale of 8,063sqm of land to Aldi Stores adjoining the Centre for a 1,600 square metre supermarket.
Folkestone's Head of Real Estate Ben Dodwell said "We are delighted to be in a position to commence Stage 1 works and construct a large format retail centre anchored by leading tenants such as Bunnings, Officeworks and JB Hi