LXB Retail Properties has concluded an agreement to dispose of part of its property interests in the Ayr scheme for total consideration of £5.0m. The group is also in advanced negotiations with a separate party for the unconditional sale of its remaining interests in the investment at Ayr. It is anticipated that this will realise a further sum in the order of £2.9m. The overall net effect of these transactions will have a negligible impact on NAV. The Group is also pleased to confirm that the disposal of its B&Q investment, which was announced on the 26 August 2016, completed on 12 September 2016 as expected realising £20.3m after repayment of £23.0m bank debt. Following completion of these transactions and along with the net proceeds of the Kingsmead disposal which was announced on 18 August 2016 and completed on 24 August 2016, the Group is able to consider a further return of capital to shareholders and a Committee of the Board will meet shortly to consider options. A further announcement will be made in due course.
+0.26p (+0.71%)delayed 18:15PM