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Liberty International Plc - Investor Visit to USA
Liberty International Plc
(Registration number UK3685527)
ISIN Code: GB0006834344
JSE Code: LBT
Issuer Code: LILII
7 October 2005
CAPITAL & COUNTIES
INVESTOR VISIT TO USA AND RECENT USA TRANSACTIONS
Capital & Counties, wholly owned subsidiary of Liberty International PLC, will
be conducting a three-day site visit to California for institutional investors
and broking analysts in the week commencing 10 October.
The visit will take in a cross-section of the group"s shopping centre and other
properties in California and short presentations will be given by senior
managers, which are intended to provide a greater understanding of those
properties visited.
There will be no discussion about current trading or future financial
performance. The US presentation will be available on our website on Wednesday
12th October.
Attached is an announcement issued today by Capital & Counties relating to the
group"s recent activities in the US.
Susan Folger
Company Secretary
RECENT USA TRANSACTIONS
Capital & Counties USA Inc (`C&C") has recently sold its trading property at
Mission Village, Fairfield together with a parcel of land at Pasadena for a
total of $15 million, to realise a trading profit of approximately $8 million.
The 18 acres of land at Mission Village was the site of a failing shopping
centre and was acquired in 2001. C&C carried out decontamination of the ground
and negotiated surrender of existing leases in order to sell with vacant
possession.
In San Francisco, C&C have entered into a contract for the $42 million purchase
of a retail and office investment located in Sutter Street, between the
financial district and Union Square. This 127,000 sq.ft. building is let to a
variety of retail and media tenants and has a 20,000 sq.ft. office vacancy for
renovation. Current income provides an initial yield of 6.5%. Completion of
the purchase is expected shortly, subject to final due diligence and the
assumption of an existing $24 million loan on the property.
Enquiries:
John Saggers Managing Director of Capital & 00 44 20 7887 7041
Counties and Executive Director
of Liberty International
FURTHER INFORMATION:
Capital & Counties
Capital & Counties is the wholly owned retail and commercial property subsidiary
of Liberty International PLC and controls property assets of over GBP1 billion.
This includes significant holdings in Central London, particularly the West End,
Mid Town and the South Bank. The company also owns major retail interests both
in Central London and a number of UK cities. As well as its UK interests,
Capital & Counties has a US property company based in San Francisco with assets
in Northern and Southern California.
Liberty International PLC
Liberty International PLC is a major UK listed property group owning 100 per
cent of Capital & Counties together with Capital Shopping Centres PLC, the
premier UK regional shopping centre business. The Group"s property assets now
amount to around GBP6.5 billion.
Liberty International has been listed on the London Stock Exchange since July
1992, where it is a constituent of the FTSE-100 index of the UK"s leading
companies, and is also listed on the Johannesburg Stock Exchange.
Date: 07/10/2005 12:36:07 PM Produced by the JSE SENS Department
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