LXB Retail Properties Plc Disposal of Investment at Sutton (3324L)

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RNS Number : 3324L

LXB Retail Properties Plc

21 December 2018

 
     21 December 2018 
 

LXB RETAIL PROPERTIES PLC

(the "Group")

Disposal of Ground Floor Retail Investment at Sutton

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 the Group has today completed the sale of its remaining retail investment at Sutton for a head line price of GBP5.4m, which is in line with the Board's expectations when it provided its most recent NAV guidance on 13 December 2018.

In addition, the Group has also received the balancing payment from The Crown Estate in relation to Phase 3 of Rushden Lakes and the business rates recoverable at Biggleswade. Both amounts were in line with the Board's expectations.

A Committee of the Board will meet in the new year to consider a further cash return to shareholders.

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/Henry Wilson

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December 21, 2018 10:30 ET (15:30 GMT)