28 Feb 2018 07:00
28 February 2018
CAPITAL & COUNTIES PROPERTIES PLC ("Capco")
CONTRACTS EXCHANGED ON 49 APARTMENTS AT LILLIE SQUARE
Capco today announces that the Lillie Square joint venture (between Capco and KFI) has exchanged contracts with an international investor for the sale of all 49 apartments and 31 parking spaces at '9 Lillie Square', the fourth block within Phase 2 of the Lillie Square development. Total consideration is approximately £66 million (£33 million Capco share). On exchange of contracts a deposit of £6.6 million (£3.3 million Capco share) was received representing 10 per cent of consideration, with a further staged payment of 10 per cent to be received in 12 months and the balance on completion.
Pricing is in line with Phase 2 sales to date, at a modest premium to comparable units in Phase 1. 142 of the 186 units in Lillie Square Phase 2 have now been reserved or exchanged.
-ENDS-
Enquiries
Capital & Counties Properties PLC:
Ian Hawksworth | Chief Executive | +44 (0)20 3214 9188 |
Situl Jobanputra | Chief Financial Officer | +44 (0)20 3214 9183 |
Sarah Corbett | Head of Investor Relations | +44 (0)20 3214 9165 |
Media enquiries:
UK: Tulchan | Susanna Voyle | +44 (0)20 7353 4200 |
SA: Instinctif | Frederic Cornet | +27 (0)11 447 3030 |
Notes to Editors
About Capital & Counties Properties PLC (Capco):
Capital & Counties Properties PLC is one of the largest investment and development property companies that specialises in central London real estate and is a constituent of the FTSE-250 Index. Capco's landmark London estates at Covent Garden and Earls Court were valued at £3.5 billion as at 31 December 2017 (Group share). The company is listed on the London Stock Exchange and the Johannesburg Stock Exchange.
www.capitalandcounties.com
About KFI:
Lillie Square is owned and developed by a joint venture between Capital & Countries Properties PLC ('Capco') and interests of certain members of the Kwok family ('KFI'). KFI are major shareholders of Sun Hung Kai Properties Limited, one of the largest real estate companies listed on the Hong Kong Stock Exchange.