FOR IMMEDIATE RELEASE
15 July 2019
LONDON & ASSOCIATED PROPERTIES PLC:
COMPLETION OF SHEFFIELD RETAIL UNIT SALE
London & Associated Properties PLC (“LAP”) today announces that it has completed the sale of a 999-year lease on 58-64 Fargate Street, the unit at the front of its Orchard Square shopping centre in Sheffield, to Metro Bank for its own occupation.
The unit is currently let to River Island at £495,000 per annum and the net cash inflow from the sale is £9.5 million, which will be used to pay down outstanding debt on the shopping centre.
John Heller, Chief Executive, LAP. Tel: 020 7415 5000
Baron Phillips, Baron Phillips Associates. Tel: 07767 444193