TIDMLXB

RNS Number : 1882D

LXB Retail Properties Plc

05 October 2018

 
 immediate release   5 October 2018

LXB Retail Properties Plc

(the "Company" or the "Group")

Update on Biggleswade

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 following practical completion of the necessary sub-division works, the final two lettings at London Road Retail Park, Biggleswade have been completed.

The Group is now in the process of agreeing the final receipt under the Biggleswade forward funding agreement and, net of the agreed incentives to the incoming tenants, is expected to receive in the region of GBP2.7m. The Group will make a further announcement as and when funds are received and, as mentioned in the Stafford leisure disposal announcement of 7 September 2018, would expect to update on the Board's intentions with regard to a further Return of Cash to Shareholders.

For further information please contact:

 
LXB Partners LLP              Tel: 020 7432 7900 
 Tim Walton, CEO 
 Brendan O'Grady, FD 
J.P. Morgan Cazenove (NOMAD)  Tel: 020 7742 4000 
 Bronson Albery/Paul Hewlett 
Buchanan                      Tel: 020 7466 5000 
 Charles Ryland/Henry Wilson

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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October 05, 2018 11:30 ET (15:30 GMT)

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