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LXB Retail logs £65.2M of proceeds from UK property sale


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LXB Retail logs £65.2M of proceeds from UK property sale

This feature rounds up recentproperty news from S&P Global Market Intelligence's covered companies and highlightslarger deal coverage already published.


* LXB Retail Properties Plc said the initial completion proceedsfor the sale of the Rushden Lakesproperty in Northamptonshire amounted to £65.2 million, down from the original amountof £75 million due to several factors for revisions.

The companyexchanged contracts with The Crown Estate in April 2015. The deal's completion wassubject to several conditions, largely relating to planning, lettings and highways.The property will be developed in three stages. LXB plans to distribute the proceedsto shareholders using thecapital return mechanism.

* Empiric Student Property Plc said it exchanged contracts to acquire the freehold of asite in Falmouthfor £2.3 million, excluding fees. The company is presently applying for planningpermission with the Cornwall County Council for a project as of April 29, accordingto a release. The proposed student accommodation property will comprise two buildingswith 287 beds.

* In Exeter, Empiric also exchanged contractsto acquire the freehold of a site for £1.5 million, excluding fees. The companyplans to develop an estimated 68-bed student accommodation property at the site,as it works to secure planning permission with the Exeter City Council as of May4, according to a release.


* Fastighets Balder AB acquired a building in Norway that housesthe Hedmark University College for 700 million Norwegian kroner, according to astatement.

* Citycon Oyj divested five properties in Finland for around€74 million to investment fund eQ Finnish Real Estate. The company said in a that the portfoliooffers 46,800 square meters of leasable area.

The saleis a part of Citycon's strategy of capital recycling and focus on urban, grocery-anchoredshopping centers in the Nordics and Baltics, the company's Chief Investment OfficerNils Styf said in a news release.


* conwert Immobilien Invest SE bought a residential propertyportfolio for around €46 million from an unnamed seller, according to a . The portfolio has 1,029residential units in Duisburg, Mittelmeiderich. Settlement of the transaction andfull-scale integration of the portfolio are expected to occur in the third quarter.

Property in Pretoria, South Africa, acquired by Emira Property.

Source: Emira Property Fund Ltd.

* agreed to buy a roughly 42,700-square-meter site in Hamburg-Bergedorfto build more than 1,000 residential units. It expects to invest some €430 millionon the project, its first in Hamburg.


acquireda prime property in Pretoria, South Africa, for 403 million South African rand anda half stake in five Summit Placebuildings, according to a release.


:The company said it acquired six sites in the Greater Dublin area with the acquisitionof a holding company and its business.

: The site is part of a regeneration of a formerFord factory in South Ockendon.

: The company's sale of an investment property markedits exit in the country, according to a filing.

: The company acquired the Towers Business Park in south Manchesterand also snapped up office assets in the Dublin suburbs.