Disposal

RNS Number : 1781D

Capital & Regional plc

27 November 2009

 

27 November 2009

CAPITAL & REGIONAL PLC:

SALE OF BEXLEYHEATH SHOPPING CENTRE

BY THE MALL FUND

Capital & Regional plc, the co-investing property asset manager, today announces that the Mall Fund has sold Bexleyheath Shopping Centre to LaSalle Investment Management for a price of £97.9m including a sum of £3.3m conditional upon achieving rental uplifts on certain lease renewals.

The price of £97.9m represents a deemed net initial yield of 7.55%.

The valuation of the centre at 30 September 2009 was £90.7m.

Completion of the sale is expected to occur in early December 2009.

Capital & Regional has an interest of 16.7% in the Mall Fund.

For further information:

Capital & Regional:

Charles Staveley, Group Finance Director Tel:[phone]

Maitland

Martin Leeburn/Emma Burdett Tel:[phone]

 

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