5 Oct 2018 16:30
immediate release | 5 October 2018 |
LXB Retail Properties Plc
(the "Company" or the "Group")
Update on Biggleswade
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 following practical completion of the necessary sub-division works, the final two lettings at London Road Retail Park, Biggleswade have been completed.
The Group is now in the process of agreeing the final receipt under the Biggleswade forward funding agreement and, net of the agreed incentives to the incoming tenants, is expected to receive in the region of £2.7m. The Group will make a further announcement as and when funds are received and, as mentioned in the Stafford leisure disposal announcement of 7 September 2018, would expect to update on the Board's intentions with regard to a further Return of Cash to Shareholders.
For further information please contact:
LXBᵌ Partners LLP Tim Walton, CEOBrendan O'Grady, FD
| Tel: 020 7432 7900 |
J.P. Morgan Cazenove (NOMAD) Bronson Albery/Paul Hewlett
| Tel: 020 7742 4000 |
Buchanan Charles Ryland/Henry Wilson | Tel: 020 7466 5000 |