Sheffield Pre-Let

11 Sep 2007 08:50

FOR IMMEDIATE RELEASE

11 September 2007

LONDON & ASSOCIATED PROPERTIES PLC PRE-LET 45,000 SQ FT SHEFFIELD RETAIL UNIT TO TK MAXX

London & Associated Properties PLC ("LAP"), the fully listed UK shopping centre and central London property specialist, today announces it has pre-let a new 45,000 sq ft retail unit at its Orchard Square Centre, Sheffield, to national fashion chain TK Maxx.

The new unit has been created from the existing 18,000 sq ft TK Maxx unit, some smaller shops and the former Stonehouse public house, which LAP acquired three years ago.

Construction of the new larger retail unit is now underway and is scheduled for completion by the end of Summer 2008 at a cost of approximately ‚£4.5m and TK Maxx has agreed a new 15 years lease at an initial annual rent of ‚£625,000, reflecting an incremental rent of ‚£383,500 a year.

LAP was advised by Lane Walker.

Ends.

Contact:

London & Associated Properties PLC Tel: 020 7418 5000

John Heller, Chief Executive

Robert Corry, Finance Director

Baron Phillips Associates Tel: 020 7920 3161

Baron Phillips