6th Oct 2009 12:15
FOR IMMEDIATE RELEASE
6 October 2009
LAP COMPLETES SALE OF SOLIHULL PROPERTY FOR 11.45m
London & Associated Properties PLC announces the sale of its investment property at 119/121 High Street and 2/8 Mill Lane Solihull, West Midlands for 11.45 million cash against a book value as at December 2008 of 12.75m at a yield of 6.4%. 9.6 million of the proceeds will be used to pay down a revolving credit facility and the balance will be added to cash reserves.
The purchaser was Universities Superannuation Scheme Limited
Contact:
John Heller, Chief Executive, LAP. Tel: 020 7415 5000
vendorRelated Shares:
London & Associated Properties