Last checked at 26 Aug 2008 12:06
26 August 2008
CAPITAL & REGIONAL PLC
welcomes agreement to sell the Junction Fund's Templars Retail Park in Oxford
Capital & Regional plc, the co-investing property asset manager, today announces that the specialist retail park fund, The Junction, has exchanged contracts for the sale of Templars Retail Park, in Oxford, for £57 million. Capital & Regional is the asset manager of the Junction and held 27.3% of the fund's units at the end of July.
A subsidiary of Resolution Properties bought Templars Park at a net initial yield of 5.68% at the purchase price.
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For further information:
Capital & Regional:
John Gatley, Managing Director, The Junction Tel: 020 7932 8000
Maitland Tel: 020 7379 5151
Martin Leeburn / Emma Burdett
Notes to editors:
About Capital & Regional plc
Capital & Regional is the co-investing asset manager which specialises in town centre shopping centres, out of town retail parks, and urban entertainment complexes.
Capital & Regional founded the Mall and Junction Funds in conjunction with Morley Fund Management. It also founded the X-Leisure fund with Hermes Investment Management Limited, and has a number of other joint ventures and developments. Its shares are quoted on the London Stock Exchange.
For further information see www.capreg.com