LXB Retail Properties Plc Disposal of land interests at Ayr (6066Z)

TIDMLXB

RNS Number : 6066Z

LXB Retail Properties Plc

16 March 2017

 
  For Immediate Release     16 March 2017 
 

LXB RETAIL PROPERTIES PLC

(the "Company" or the "Group")

Disposal of land interests at Ayr

LXB Retail Properties Plc, the Jersey resident closed-ended real estate investment company focused on edge of town and out of town retail assets, is pleased to announce that on 15 March 2017 it completed on the sale of substantially all of its remaining land interests at Corton, Ayr to Manse LLP, funded by Palmer Capital Development Fund IV.

Sale proceeds of GBP3.356m have been received by the Company which, after accounting for expenditure since the last balance sheet date and accruing for disposal fees and contracted costs, will have a minimal impact on NAV.

Tim Walton, CEO of LXB Adviser LLP said:-

"With the exception of a small piece of land, this concludes the Group's activities in Ayr and marks another step towards disposing of the Group's remaining assets in accordance with the shareholders' vote in February 2016."

For further information please contact:

LXB Adviser LLP Tel: [phone]

Tim Walton, CEO

Brendan O'Grady, FD

J.P. Morgan Cazenove (NOMAD) Tel: [phone]

Bronson Albery/Paul Hewlett

Buchanan Tel: [phone]

Charles Ryland/Victoria Hayns/Patrick Hanrahan

This information is provided by RNS

The company news service from the London Stock Exchange

END

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March 16, 2017 03:00 ET (07:00 GMT)