Welcome to London & Associated Properties

"We are pleased to report on a year of steady progress at LAP. As previously reported, the most significant event of last year was the refinancing of our £45 million facility away from the Royal Bank of Scotland to Santander UK PLC. At the same time we closed our associated long-dated swap positions. As a result we are in a much stronger financial position going forward with a less volatile balance sheet.

As reported in 2013, Windsor Shopping Centre’s sale was completed in January 2014 for £105 million. The sale proceeds were utilised to repay the related bank loan and all group to interest rate derivatives.

In March 2015, we also repaid from our cash resources £1.25 million of the £5 million outstanding 2018 debenture stock from Prudential Assurance Co. The total consideration was £1.4 million and this will reduce interest expense by £145,000 per annum. As a result of both of these events, LAP’s average cost of borrowing now stands at 5.8% (2013: 7.6%) while the Group’s borrowing cost is 5.7% (2013: 7.2%). "
... full statement

Sir Michael Heller, Chairman.
John Heller, Chief Executive.

2014 results

Final results for the year ending 31 December 2014 are available now to download

warning to shareholders

The FSA have recently issued a warning to shareholders regarding boiler room scans. Click here for details.

notice

The directors of London & Associated Properties PLC are responsible for the maintenance and integrity of the corporate and financial information relating to the group which is included in this website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.