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LXB Retail Properties Plc   -  LXB   

Update on Disposal of Investments

Released 14:30 18-Jul-2018

RNS Number : 0581V
LXB Retail Properties Plc
18 July 2018


LXB Retail Properties Plc

(the "Company" or the "Group")


Update on Disposal of Investments at Stafford and Sheppey


LXB Retail Properties Plc, the Jersey resident closed-ended real estate investment company focused on edge of town and out of town retail assets, is pleased to announce that it has exchanged contracts for the variation to the original forward sale agreement of the Group's leisure investment at Stafford and has completed the letting of the final unit in Phase 2C at Neats Court, Isle of Sheppey.


On 17 July 2018, the Group exchanged contracts to vary the original Stafford Leisure forward sale agreement. The terms of this contract are as stated in the Interim Report of the Company for the 6 months ended 31 March 2018.


On 12 July 2018, the Group concluded a letting with Creams on the final unit of Phase 2C at Neats Court, Isle of Sheppey. This has resulted in a further net receipt of £0.42m under the sale contract with Lightstone LLP.


For further information please contact:


LXBᵌ Partners LLP

Tim Walton, CEO
Brendan O'Grady, FD


Tel: 020 7432 7900

J.P. Morgan Cazenove (NOMAD)             

Bronson Albery/Paul Hewlett


Tel: 020 7742 4000


Charles Ryland/Henry Wilson

Tel: 020 7466 5000


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Update on Disposal of Investments - RNS