Disposal

RNS Number : 1555O

Capital & Regional plc

02 March 2009

 



PRESS RELEASE

CAPITAL & REGIONAL PLC

ANNOUNCES SALE OF X-LEISURE FUND'S 02 CENTRE, FINCHLEY ROAD

Capital & Regional plc, the co-investing property asset manager, today announces that the X-Leisure Fund (in which Capital & Regional holds a 19.4% stake and is the property asset manager) has agreed the sale of the 02 Centre, Finchley Road. The property has been sold to Matterhorn Capital for a price of £92.5 million representing a Net Initial Yield of 7.83%.   Completion is expected by the end of March.

Hugh Scott-Barrett, Chief Executive of Capital & Regional said:

"The disposal of 02 is part of a broader strategy to strengthen the financial base of the X-Leisure Fund, the UK's largest specialist fund investing in leisure property."

Further details will be provided with Capital & Regional's results in April.

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For further information:   

Capital & Regional

Hugh Scott-Barrett, Chief Executive    Tel: [phone]

Maitland

Martin Leeburn / Emma Burdett Tel: [phone]

 

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