7th Oct 2005 10:10
LIBERTY INTERNATIONAL PLC7 October 2005CAPITAL & COUNTIESINVESTOR VISIT TO USA AND RECENT USA TRANSACTIONSCapital & Counties, wholly owned subsidiary of Liberty International PLC, willbe conducting a three day site visit to California for institutional investorsand broking analysts in the week commencing 10 October.The visit will take in a cross-section of the group's shopping centre and otherproperties in California and short presentations will be given by seniormanagers, which are intended to provide a greater understanding of thoseproperties visited.There will be no discussion about current trading or future financialperformance. The US presentation will be available on our website on Wednesday12th October.Attached is an announcement issued today by Capital & Counties relating to thegroup's recent activities in the US.Susan FolgerCompany SecretaryRECENT USA TRANSACTIONSCapital & Counties USA Inc (`C&C') has recently sold its trading property atMission Village, Fairfield together with a parcel of land at Pasadena for atotal of $15 million, to realise a trading profit of approximately $8 million.The 18 acres of land at Mission Village was the site of a failing shoppingcentre and was acquired in 2001. C&C carried out decontamination of the groundand negotiated surrender of existing leases in order to sell with vacantpossession.In San Francisco, C&C have entered into a contract for the $42 million purchaseof a retail and office investment located in Sutter Street, between thefinancial district and Union Square. This 127,000 sq.ft. building is let to avariety of retail and media tenants and has a 20,000 sq.ft. office vacancy forrenovation. Current income provides an initial yield of 6.5%. Completion of thepurchase is expected shortly, subject to final due diligence and the assumptionof an existing $24 million loan on the property.Enquiries:John Saggers Managing Director of Capital & Counties 00 44 20 7887 7041 and Executive Director of Liberty International FURTHER INFORMATION:Capital & CountiesCapital & Counties is the wholly owned retail and commercial propertysubsidiary of Liberty International PLC and controls property assets of over ‚£1billion. This includes significant holdings in Central London, particularly theWest End, Mid Town and the South Bank. The company also owns major retailinterests both in Central London and a number of UK cities. As well as its UKinterests, Capital & Counties has a US property company based in San Franciscowith assets in Northern and Southern California.Liberty International PLCLiberty International PLC is a major UK listed property group owning 100 percent of Capital & Counties together with Capital Shopping Centres PLC, thepremier UK regional shopping centre business. The Group's property assets nowamount to around ‚£6.5 billion.Liberty International has been listed on the London Stock Exchange since July1992, where it is a constituent of the FTSE-100 index of the UK's leadingcompanies, and is also listed on the Johannesburg Stock Exchange.ENDLiberty International plcRelated Shares:
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