Disposal

Capital & Regional PLC 13 February 2001 CAPITAL & REGIONAL SELLS ST ANDREW HOUSE, GLASGOW TO SCOTTISH MUTUAL FOR £20M Capital & Regional plc, the specialist retail and leisure property investment company, today announces that it has completed the sale of St Andrew House in Glasgow to Scottish Mutual Assurance plc for £20 million cash, representing a net initial yield of 7.45%. The property comprises of approximately 100,000 sq ft of mixed use retail and office on prime Sauchiehall Street. Commenting on the sale, Martin Barber, Chief Executive of Capital & Regional said: 'We are pleased to have sold St Andrew House which has been a good investment. The disposal enables us to concentrate our resources further on the core strategic areas of larger, dominant in-town centres, retail parks and Xscape, where we believe Capital & Regional can add value through its management approach.' Capital & Regional was represented by Montagu Evans and Scottish Mutual Assurance by Jones Lang LaSalle. For further information please contact: Xavier Pullen, Deputy Chief Executive, Capital & Regional 0207 932 8000 Lynda Coral, Financial Director, Capital & Regional 0207 932 8000 Sarah Carrell, Corporate Communications, Capital & Regional 0207 932 8000
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