2nd Mar 2009 15:50
PRESS RELEASE
CAPITAL & REGIONAL PLC
ANNOUNCES SALE OF X-LEISURE FUND'S 02 CENTRE, FINCHLEY ROAD
Capital & Regional plc, the co-investing property asset manager, today announces that the X-Leisure Fund (in which Capital & Regional holds a 19.4% stake and is the property asset manager) has agreed the sale of the 02 Centre, Finchley Road. The property has been sold to Matterhorn Capital for a price of £92.5 million representing a Net Initial Yield of 7.83%. Completion is expected by the end of March.
Hugh Scott-Barrett, Chief Executive of Capital & Regional said:
"The disposal of 02 is part of a broader strategy to strengthen the financial base of the X-Leisure Fund, the UK's largest specialist fund investing in leisure property."
Further details will be provided with Capital & Regional's results in April.
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For further information:
Capital & Regional
Hugh Scott-Barrett, Chief Executive Tel: 020 7932 8121
Maitland
Martin Leeburn / Emma Burdett Tel: 020 7379 5151
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