Lon.&Assoc.Props PLC: Sale of Property | Company Announcements

Tuesday 06 October, 2009

Lon.&Assoc.Props PLC

Sale of Property


FOR IMMEDIATE RELEASE

6 October 2009

              LAP COMPLETES SALE OF SOLIHULL PROPERTY FOR £11.45m              

London & Associated Properties PLC announces the sale of its investment
property at 119/121 High Street and 2/8 Mill Lane Solihull, West Midlands for 
£11.45 million cash against a book value as at December 2008 of £12.75m at a
yield of 6.4%. £9.6 million of the proceeds will be used to pay down a
revolving credit facility and the balance will be added to cash reserves.

The purchaser was Universities Superannuation Scheme Limited

 

Contact:

John Heller, Chief Executive, LAP. Tel: 020 7415 5000

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