Less Ads, More Data, More Tools Register for FREE

Pin to quick picksWhitbread Regulatory News (WTB)

Share Price Information for Whitbread (WTB)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 2,912.00
Bid: 2,913.00
Ask: 2,914.00
Change: -25.00 (-0.85%)
Spread: 1.00 (0.034%)
Open: 2,932.00
High: 2,952.00
Low: 2,905.00
Prev. Close: 2,937.00
WTB Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Sale and Leaseback

7 Jul 2016 07:00

RNS Number : 4737D
Whitbread PLC
07 July 2016
 

7th July 2016

Whitbread PLC announces the sale and leaseback of its 389 room Hub by Premier Inn hotel in Kings Cross, London

 

 

As announced in April, Whitbread is planning to carry out sale and leaseback transactions this year with proceeds of £100 to £150 million.

 

As part of this, Whitbread announces today it has exchanged agreements with Legal and General for the sale and leaseback of its 389 room Hub by Premier Inn hotel in Kings Cross, due to open in 2017, in exchange for a 25 year lease agreement.

 

Legal and General will pay £84.5 million in cash for the property, with an initial payment of £46.5 million on exchange. Further staged payments will be made during the construction period with a final balancing payment being made on completion of the hotel in June 2017.

 

The total sale price of £84.5 million produces a net initial yield of just under 4% against an annual rent of £3.5 million. 

Nicholas Cadbury, Group Finance Director of Whitbread PLC commented:

 

"This transaction shows the strength of Whitbread's covenant and the strong asset backing to our balance sheet as well as our ability to recycle the value we create from our freehold developments into new opportunities."

 

 

 

For more information please contact:

 

Investor Relations

Nicholas Cadbury, Whitbread PLC +44 (0) 20 7806 5491

Joanne Russell, Whitbread PLC +44 (0) 1582 888633

 

Press Contacts

Anna Glover, Whitbread PLC +44 (0) 7768 917 651

David Allchurch, Tulchan +44 (0) 20 7353 4200

 

For photographs and video please visit our media library on www.whitbreadimages.co.uk

 

Notes to Editors

 

Whitbread PLC is the owner of the UK's favourite hotel chain, Premier Inn and the UK's favourite coffee shop, Costa, as well as restaurant brands, Beefeater, Brewers Fayre, Table Table and Taybarns.

 

Whitbread PLC employs 50,000 people in over 2,300* outlets across the UK, with its well-loved brands making every day experiences special for over 27 million UK customers every month.

 

Whitbread has outlined growth milestones for 2018 and 2020. The 2020 milestones are to increase the number of Premier Inn UK rooms to around 85,000 and to achieve global system sales of around £2.5bn for Costa.

 

At Whitbread we are committed to being a force for good in the communities in which we operate. Our CR programme, 'Good Together' is focused on three pillars of Team & Communities, Customer Wellbeing and Energy & Environment.

 

In the year ended 3 March 2016, Whitbread PLC reported a 12.0% increase in Group Revenue to £2,921.8 million and Underlying Profit before tax of £546.3 million up 11.9%.

 

Whitbread PLC is listed on the London Stock Exchange and is a constituent of the FTSE 100. It is also a member of the FTSE4Good Index.

 

*excludes Costa Franchise stores and Costa Express

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DISUNONRNWABRAR
Date   Source Headline
14th Jun 20247:00 amRNSTransaction in Own Shares
13th Jun 20247:00 amRNSTransaction in Own Shares
12th Jun 20244:45 pmRNSHolding(s) in Company
12th Jun 20247:00 amRNSTransaction in Own Shares
11th Jun 20247:00 amRNSTransaction in Own Shares
10th Jun 20247:00 amRNSTransaction in Own Shares
7th Jun 202412:14 pmRNSHolding(s) in Company
7th Jun 20247:00 amRNSTransaction in Own Shares
5th Jun 20247:00 amRNSTransaction in Own Shares
4th Jun 202412:19 pmRNSHolding(s) in Company
3rd Jun 20247:00 amRNSTransaction in Own Shares
31st May 20247:00 amRNSTransaction in Own Shares
30th May 20247:00 amRNSTransaction in Own Shares
29th May 20247:00 amRNSTransaction in Own Shares
28th May 20247:00 amRNSTransaction in Own Shares
24th May 20244:44 pmRNSDirector/PDMR Shareholding
24th May 20247:00 amRNSTransaction in Own Shares
23rd May 20247:00 amRNSTransaction in Own Shares
22nd May 20247:00 amRNSTransaction in Own Shares
21st May 20247:00 amRNSTransaction in Own Shares
20th May 20247:00 amRNSTransaction in Own Shares
17th May 20243:39 pmRNSPublication of Annual Report
17th May 20247:00 amRNSTransaction in Own Shares
16th May 20247:00 amRNSTransaction in Own Shares
15th May 20247:00 amRNSTransaction in Own Shares
14th May 20247:00 amRNSTransaction in Own Shares
13th May 20247:00 amRNSTransaction in Own Shares
10th May 20247:00 amRNSTransaction in Own Shares
9th May 20247:00 amRNSTransaction in Own Shares
8th May 20247:00 amRNSTransaction in Own Shares
7th May 20247:00 amRNSTransaction in Own Shares
3rd May 20241:24 pmRNSDirector/PDMR Shareholding
3rd May 20247:00 amRNSTransaction in Own Shares
2nd May 20244:42 pmRNSDirector/PDMR Shareholding
2nd May 20247:00 amRNSTransaction in Own Shares
1st May 20243:34 pmRNSTotal Voting Rights
1st May 20243:02 pmRNSDirector/PDMR Shareholding
1st May 20247:00 amRNSTransaction in Own Shares
30th Apr 20247:05 amRNSShare Repurchase Programme
30th Apr 20247:00 amRNSPreliminary Results Announcement
4th Mar 20247:00 amRNSTransaction in Own Shares
1st Mar 20244:36 pmRNSTotal Voting Rights
1st Mar 20247:00 amRNSTransaction in Own Shares
29th Feb 20247:00 amRNSTransaction in Own Shares
28th Feb 20247:00 amRNSTransaction in Own Shares
20th Feb 20244:53 pmRNSDirector/PDMR Shareholding
15th Feb 20247:00 amRNSTransaction in Own Shares
14th Feb 20247:00 amRNSTransaction in Own Shares
13th Feb 20244:20 pmRNSDirector/PDMR Shareholding
9th Feb 20247:00 amRNSTransaction in Own Shares

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.