Capital & Regional Regulatory News (CAL)

27 Jan 2005 07:00

Capital & Regional plc27 January 2005 27 January 2005 CAPITAL & REGIONAL PLC: KITTYBREWSTER RETAIL PARK, ABERDEEN ACQUIRED BY THE JUNCTION Capital & Regional plc, the co-investing property asset manager, today announcesthat The Junction has purchased the Kittybrewster Retail Park in Aberdeen fromLegal & General for £52.62 million, showing an initial yield of 4.73% and anequivalent yield of 5.75%. Tenants on the park, which has unrestricted Class I (non-food) planningpermission, include DFS, Currys, Comet, Halfords, Carpetright, TKMaxx and OfficeWorld. The park totals 140,824 sq ft and has achieved a top rent of £22.50 psf. Andrew Lewis-Pratt, Chief Executive of The Junction comments, "The purchase ofKittybrewster Retail Park is a significant addition to our 3.2 million sq ftprime retail park portfolio. The purchase reflects our ongoing strategy toenlarge our Junction portfolio by investing in destination retail parks withhigh development and asset management potential, particularly those dominantwithin their catchments. Stockford Staunton and Eric Young & Co acted for Legal & General, with JonesLang LaSalle acting for The Junction. Notes to Editors About Capital & Regional plc Capital & Regional is the co-investing asset manager which specialises in towncentre shopping centres, out of town retail parks, and urban entertainmentcomplexes. Capital & Regional founded the Mall and Junction Funds in conjunction withMorley Fund Management. It also founded the X-Leisure fund with HermesInvestment Management Limited, and has a number of other joint ventures anddevelopments. Its shares are quoted on the London Stock Exchange. For further information see www.capreg.com About The JunctionThe Junction owns and operates an £1 billion destination retail park portfolio,which includes 17 retail parks located throughout the UK. For further information visit: www.thejunction-uk.com - ENDS - For further information: Capital & Regional:Martin Barber, Chief Executive Tel. 020 7932 8101William Sunnucks, Group Finance Director Tel. 020 7932 8125 gcg hudson sandlerMichael Sandler / James Benjamin Tel: 020 7796 4133 Redwood Consulting:Kate Hewson Tel: 020 7224 4300 This information is provided by RNS The company news service from the London Stock Exchange