Completed £250M sale to Travelodge of 66 hotels

LXI REIT PLC

29 February 2024

 

29 February 2024

LXi REIT plc

(the "Company", the "Group" or "LXi")

COMPLETION OF THE SALE TO TRAVELODGE OF 66 HOTELS FOR £210 MILLION

LXi REIT plc, the specialist inflation-protected very long income REIT, is pleased to report that, following its announcement of 8 January 2024, the Company has now completed on the sale of 66 Travelodge branded hotels to the Travelodge group for £210 million.

FOR FURTHER INFORMATION, PLEASE CONTACT:

LXI REIT Advisors Limited Simon Lee (CEO) Alex MacEachin (CFO)	Via H/Advisors Maitland
H/Advisors Maitland (Communications Advisor) James Benjamin Rachel Cohen	[e-mail] 07747 113 930 020 7379 5151

The Company's LEI is: 2138008YZGXOKAXQVI45

NOTES

LXI REIT plc invests in commercial property assets predominantly in the UK, let, or pre-let, on long (typically 20 to 30 years to expiry or first break), inflation-linked leases to a wide range of strong tenant covenants across a diverse range of robust property sectors.

The Company may invest in fixed-price forward funded developments, provided they are pre-let to an acceptable tenant and full planning permission is in place. The Company will not undertake any direct development activity nor assume direct development risk.

The Company is targeting a dividend of 6.6 pence per ordinary share for the year which commenced on 1 April 2023*.

The Company, a real estate investment trust ("REIT") incorporated in England and Wales, is listed on the premium listing segment of the Official List of the UK Financial Conduct Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in February 2017.

The Company is a constituent of the FTSE 250, EPRA/NAREIT, MSCI and STOXX Europe 600 indices.

Further information on the Company is available at www.lxireit.com

*     This is a target and not profit forecast.

 

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