15th Dec 2005 07:00
Shaftesbury PLC15 December 2005 Shaftesbury PLC Covent Garden Purchase Shaftesbury PLC ("Shaftesbury"), the specialist West End property investmentcompany, announces today, 15 December 2005, that it has entered into a contractto acquire 26 freehold properties in Covent Garden for £45.0 million to be paidin cash from existing resources. The vendor is The Standard Life AssuranceCompany. The buildings, which front Wellington, Tavistock, Catherine and Russell Streets,extend to 55,000 sq.ft. and include 15 restaurants , 11 shops and 22,000 sq.ft.of offices (of which 12,000 sq.ft. is vacant). The properties currently producean income of £1.6 million and offer scope for reconfiguration and refurbishmentwhich should enhance value over the medium term. Shaftesbury already owns 5 small shops and cafes on Wellington Street. For further information contact: Shaftesbury PLCJonathan Lane, Chief ExecutiveBrian Bickell, Finance Director020 7333 8118www.shaftesbury.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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