Disposal

RNS Number : 0587K

Capital & Regional plc

12 December 2008

 



12 December 2008

CAPITAL & REGIONAL PLC ANNOUNCES 

SALE OF the costco UNIT AT the CAPITAL RETAIL PARK, cardiff

Capital & Regional plc ("Capital & Regional"), the co-investing property asset manager, today announces that the Capital Retail Park Partnership has exchanged contracts for the sale of the Costco unit at the Capital Retail Park in Cardiff to a private investor for £16.95 million.  

The sale price represents a net initial yield on contracted rent of 6.1%.  The Capital Retail Park Partnership is a 50:50 joint venture between Capital & Regional plc and PMG Estates Limited, a local property developer. The sale proceeds will be used to pay down the partnership debt. 

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Notes to editors:

About Capital & Regional plc

Capital & Regional is the co-investing asset manager which specialises in town centre shopping centres, out of town retail parks, and urban entertainment complexes.  

Capital & Regional founded the Mall and Junction Funds in conjunction with Aviva Investors Global Services Ltd. It also founded the X-Leisure Fund with Hermes Investment Management Limited, and has a number of other joint ventures and developments. Its shares are quoted on the London Stock Exchange.  

For further information please visit:  www.capreg.com 

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For further information:

Capital & Regional plc                                         Tel: [phone]

Charles Staveley, Group Finance Director

John Gatley, Managing Director, The Junction

Maitland

Martin Leeburn / Emma Burdett                              Tel: [phone]

 

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