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Disposal of Investment at Sutton

21 Dec 2018 15:30

RNS Number : 3324L
LXB Retail Properties Plc
21 December 2018
 

 

 

 

 

 

 

 

 

 

 

 

 

21 December 2018

 

 

 

 

LXB RETAIL PROPERTIES PLC

(the "Group")

 

Disposal of Ground Floor Retail Investment at Sutton

 

LXB Retail Properties Plc, the Jersey resident closed-ended real estate investment company focused on edge of town and out of town retail assets, is pleased to announce that the Group has today completed the sale of its remaining retail investment at Sutton for a head line price of £5.4m, which is in line with the Board's expectations when it provided its most recent NAV guidance on 13 December 2018.

 

In addition, the Group has also received the balancing payment from The Crown Estate in relation to Phase 3 of Rushden Lakes and the business rates recoverable at Biggleswade. Both amounts were in line with the Board's expectations.

 

A Committee of the Board will meet in the new year to consider a further cash return to shareholders.

 

 

For further information please contact:

 

LXB Adviser LLP Tel: 020 7432 7900

Tim Walton, CEOBrendan O'Grady, FD

 

J.P. Morgan Cazenove (NOMAD) Tel: 020 7742 4000

Bronson Albery/Paul Hewlett

 

Buchanan Tel: 020 7466 5000

Charles Ryland/Henry Wilson

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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