30th Aug 2005 17:08
British Land Co PLC30 August 2005 30th August 2005 BRITISH LAND SUBSIDIARIES PROFIT FROM ILAC CENTRE SALE Firmount Limited and Arch Properties Limited (wholly-owned subsidiaries of TheBritish Land Company PLC) announce the sale of a 50% interest in the IlacShopping Centre, Dublin for €121.32m. The half share was originally acquired in2001 for €56.6m. The shopping centre has been co-owned with Irish Life Assurance Company Plc,with the British Land subsidiaries acting as Asset Managers since acquisition inJuly 2001. Strategic asset management has achieved significant new agreements with Dunnesstores, Roches stores, Dublin City Council and Easons. A 14,000 sq ft flag-shipstore has been created for H&M at the newly remodelled entrance at Mary Streetand a new Dunnes store fronting Henry Street and Moore Mall across Sampson'sLane is scheduled to be opened by Christmas 2006. In addition, during 2004 theasset managers put in place an agreement with South Dublin Construction for thedevelopment of 10,000 sq ft of retail space on Parnell Street with 126apartments above. Contacts John Weston SmithThe British Land Company PLC tel: 020 7467 2899 Cyril MetlissThe British Land Company PLC tel: 020 7467 2822 Merrick MarshallThe British Land Company PLC tel: 020 7467 2973 Faeth BirchFinsbury tel: 020 7251 3801 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
British Land