15th Jan 2008 07:00
FOR IMMEDIATE RELEASE
15 January 2008
LAP PURCHASES A PRIME RETAIL INVESTMENT IN SOLIHULL
London & Associated Properties PLC ("LAP"), the retail and London focused property investor, today announces that it has purchased a freehold parade of seven retail shops in High Street and Mill Lane, Solihull for ‚£13.7 million in cash. The income from the units is ‚£788,500 reflecting a net initial yield of 5.4%.
The property was purchased from Standard Life Investment Funds Ltd. Lewis and Partners advised LAP, while Churston Heard acted for the vendor.
Ends
Contact:
London & Associated Properties PLC Tel: 020 7415 5000
John Heller, Chief Executive
Robert Corry, Finance Director
Baron Phillips Associates Tel: 020 7920 3161
Baron Phillips
LONDON AND ASSOCIATED PROPERTIES PLCRelated Shares:
London & Associated Properties