FOR IMMEDIATE RELEASE
27 April 2018
LONDON & ASSOCIATED PROPERTIES PLC (“LAP”):
COMPLETION OF BRIXTON MARKETS SALE
LAP announces it completed on 26 April 2018 the sale of Market Row and Brixton Village to Market Village Limited for a combined cash consideration of £37.25 million.
Last valued as at 31 December 2016 the sale represents a substantial profit over the stated book value of £24.5 million. £15.9 million of the proceeds have been used to repay debt, and the balance has been added to LAP’s cash reserves.
John Heller, Chief Executive, LAP. Tel: 020 7415 5000
Baron Phillips, Baron Phillips Associates. Tel: 07767 444193