UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 12B-25
NOTIFICATION OF LATE FILING
SEC FILE NUMBER 0-10979
FORM 10K
FOR FISCAL YEAR ENDED: SEPTEMBER 30,1997
PAINE WEBBER INCOME PROPERTIES THREE LIMITED PARTNERSHIP
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(Exact name of registrant as specified in its charter)
265 Franklin Street, Boston, Massachusetts 02110
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (617) 439-8118
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PART II - RULES 12B-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate)
X (a) The reasons described in reasonable detail in Part III of this
- ---- form could not be eliminated without unreasonable effort or expense;
X (b) The subject annual report, semi-annual report, transition report
- ---- on Form 10-K, Form 20-F, 11-K, Form N-SAR, or portion thereof, will
be filed on or before the fifteenth calendar day following the
prescribed due date; or the subject quarterly report of transition
report on Form 10-Q, or portion thereof will be filed on or before
the fifth calendar day following the prescribed due date; and
- ---- (c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
PART III - NARRATIVE
State below in reasonable detail the reasons why the Form 10-K, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed within
the prescribed time period.
The Annual Report on Form 10-K of Paine Webber Income Properties Three Limited
Partnership (the "Registrant") will not be completed by December 29, 1997, the
last day for a timely filing of such Annual Report for the year ended September
30, 1997.
Additional time is required in order to enable the Registrant to file a complete
and accurate report. The Form 10-K will be filed on or before January 13, 1998,
in accordance with Rule 12b-25(b).
<PAGE>
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
Thomas W. Boland (617) 439-8138
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(2) Have all other periodic reports
under Section 13 or 15(e) of the
Securities Exchange Act of 1934 or
Section 30 of the Investment Company
Act of 1940 during the preceding 12
months (or for such shorter) period
that the registrant was required to
file such reports) been filed? If
answer is no, identify report(s). |X| Yes |_| No
(3) Is it anticipated that any
significant change in results of
operations from the corresponding
period for the last fiscal year will
be reflected by the earnings
statements to be included in the
subject report or portion thereof? |_| Yes |X No
If so, attach an explanation of the anticipated change, both narratively
and quantitatively, and, if appropriate, state the reasons why a reasonable
estimate of the results cannot be made.
PAINE WEBBER INCOME PROPERTIES THREE LIMITED PARTNERSHIP
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(Name of registrant as specified in its charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date: 12/23/97 By: /s/ Walter V. Arnold
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Walter V. Arnold, Senior Vice President
and Chief Financial Officer
