28th Jan 2008 07:00
FOR IMMEDIATE RELEASE
28 January 2008
LAP PURCHASES A PRIME RETAIL INVESTMENT IN CHESTERFIELD
London & Associated Properties PLC ("LAP"), the retail property investor, today announces that it has exchanged contracts to purchase a 54,000 square foot shop let principally to Primark in Market Place, Chesterfield for ‚£8.7 million in cash. The income from the property is ‚£522,000 reflecting a net initial yield of 5.7%.
The property was purchased from Axa Sun Life plc. Lewis and Partners advised LAP, while Kitchen La Frenais Morgan acted for the vendor.
Ends
Contact:
London & Associated Properties PLC Tel: 020 7415 5000
John Heller, Chief Executive
Robert Corry, Finance Director
Baron Phillips Associates Tel: 020 7920 3161
Baron Phillips
LONDON AND ASSOCIATED PROPERTIES PLCRelated Shares:
London & Associated Properties