6th Jul 2018 14:37
LONDON (Alliance News) - Car park operator and property investor Town Centre Securities PLC said Friday that it is in advanced discussions with Leeds City Council for the refinancing of Merrion House.
Town Centre said in February that it had practically completed the redevelopment of Merrion House, a 170,000 square foot ten-storey building. The Leeds property is jointly owned by LCC and Town Centre.
LCC occupies the building on a new 25-year lease. Under the refinancing agreement, LCC would make a discounted rent advance for the fixed non retail price element of its lease commitment.
Shares in Town Centre Securities were up 0.4% at 289.20 pence on Friday.
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