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24 Jun 2019 | 07:51

London & Associated Properties sells long lease on Sheffield retail unit to Metro Bank

London & Associated Properties said it had unconditionally exchanged contracts to sell a 999 year lease on 58-64 Fargate, the unit at the front of its Orchard Square shopping centre in Sheffield, to Metro Bank for its own occupation.

The unit, currently let to River Island at £495,000 a year, would generate net cash inflow from the sale of £9.5m, which would be used to pay down outstanding debt on the shopping centre.



Story provided by StockMarketWire.com
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