23rd Apr 2007 07:01
Capital & Regional plc23 April 2007 23 April 2007 CAPITAL & REGIONAL PLC: THE JUNCTION SELLS £34.25M BLACKPOLE RETAIL PARK, WORCESTER Capital & Regional plc, the co-investing property asset manager, today announcesthat The Junction has completed the £34.25m sale of its Blackpole Retail Park inWorcester to Legal & General Investment Management. This reflects a net initialyield of 4.56% and an equivalent yield of 4.85%. John Gatley, Managing Director of The Junction comments: "The sale of BlackpoleRetail Park continues the rebalance of our portfolio and follows our £105mpurchase in October 2006 of Morfa Shopping Park in Swansea. We continue tofocus our attention on our significant development and refurbishment pipelineacross our 15 retail parks". Tenants on the 88,722sq ft bulky goods retail park include Carpetright, Comet,Currys, Lidl, Pets at Home and recently opened, Paul Simon. Blackpole RetailPark is located to the north east of Worcester town centre off junction 6 of theM5 Motorway. Montagu Evans acted for The Junction in the transaction. Savills acted on behalfof Legal & General Investment Management. Notes to editors: About Capital & Regional plc Capital & Regional is the co-investing asset manager which specialises in towncentre shopping centres, out of town retail parks, and urban entertainmentcomplexes. Capital & Regional founded the Mall and Junction Funds in conjunction withMorley Fund Management. It also founded the X-Leisure fund with HermesInvestment Management Limited, and has a number of other joint ventures anddevelopments. Its shares are quoted on the London Stock Exchange. For further information see www.capreg.com - ENDS - For further information: Capital & Regional:Martin Barber, Chief Executive Tel. 020 7932 8101 Redwood Consulting:Kate Hewson Tel: 020 7828 5553 MaitlandMartin Leeburn Tel: 020 7379 5151Emma Burdett Tel: 020 7379 5151 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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