Acquisition(s)

28 Jan 2008 07:00

FOR IMMEDIATE RELEASE

28 January 2008

LAP PURCHASES A PRIME RETAIL INVESTMENT IN CHESTERFIELD

London & Associated Properties PLC ("LAP"), the retail property investor, today announces that it has exchanged contracts to purchase a 54,000 square foot shop let principally to Primark in Market Place, Chesterfield for ‚£8.7 million in cash. The income from the property is ‚£522,000 reflecting a net initial yield of 5.7%.

The property was purchased from Axa Sun Life plc. Lewis and Partners advised LAP, while Kitchen La Frenais Morgan acted for the vendor.

Ends

Contact:

London & Associated Properties PLC Tel: 020 7415 5000

John Heller, Chief Executive

Robert Corry, Finance Director

Baron Phillips Associates Tel: 020 7920 3161

Baron Phillips