Financing - ?61.7m Financing Marlow & Unilever Hse

RNS Number : 7473I

London & Stamford Property PLC

30 July 2012

 



30 July 2012

LONDON & STAMFORD PROPERTY PLC

("London & Stamford", "LSP" or the "Group")

Financing of Marlow International and Unilever House for £61.7 million

Further to the Company's Interim Management Statement of 20 July 2012, London & Stamford Property Plc (LSE: LSP.L) is pleased to announce that it has completed the acquisition of Marlow International. LSP has also completed the £61.7 million financing of its South East offices, Marlow International and Unilever House, Leatherhead, with DekaBank Deutsche Girozentrale and Deutsche Postbank AG, London Branch. Following this financing, these two assets will now offer a combined cash on cash yield of approximately 11.6%, an improvement on the 11.2% cash on cash yield identified in the Interim Management Statement.

For further information contact:

London & Stamford Property Plc Raymond Mould Patrick Vaughan Martin McGann	Tel: [phone]
Kreab Gavin Anderson Richard Constant James Benjamin Anthony Hughes	Tel: [phone]

Notes to editors:

London & Stamford Property Plc was set up to exploit opportunities that it anticipated in the UK property cycle and is a group UK REIT. The Company has a highly experienced management team and invests in and actively manages commercial property, including office, retail and distribution real estate assets, all of which are located in the UK, and in residential assets in Central London.

The Company is traded on the London Stock Exchange's Main Market (LSP.L) and is authorised by the FSA to carry out certain regulated activities.

Further information on the Company is available from the Company's website: www.londonandstamford.com 

 

END

 

 

MSCRRMFTMBJTBMT