17th Jan 2007 15:34
British Land Co PLC17 January 2007 T.G.I. FRIDAY'S DEAL AGREED British Land has exchanged contracts to acquire the property interests of 15T.G.I. Friday's restaurants for £48.37m from Whitbread PLC. The properties willbe leased back to T.G.I. Friday's UK Limited, a newly created Joint Venturebetween Carlson Restaurants Worldwide Inc and ABN Amro Capital Limited. The majority of the 15 properties, which include one in Wales and one inScotland, are located in prime out of town locations and will be let on new 25year leases with annual uplifts linked to the Retail Price Index. Ben Young, Investment Executive, British Land, said: "We are very pleased to addthese properties to our growing, fixed-income portfolio which currently totals£1.8 billion." Savills advised British Land on the purchase. Completion is subject to the joint venture between Carlson Restaurants Worldwideand ABN Amro Capital Limited receiving clearance from the EU competitionauthorities. Notes to Editors: The restaurants range in size from 4,555 sq ft to 9,311 sq ft. Properties are located in Basildon, Birmingham, Cardiff, Cheadle, Cheltenham,Coventry, Croydon, Edinburgh, Enfield, Fareham, High Wycombe, Northampton,Prestwich, Sale and Watford. Date: 17 January, 2007 Media enquiries:Laura De Vere, Director Corporate Communications tel: 0207 467 2920The British Land Company PLC mobile: 0773 929 2920 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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