21 Dec 2018 15:30
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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