UK resident property investment company The Local Shopping REIT (LSR) has revealed plans to raise up to £160m through a listing on the London Stock Exchange in May.
Shortly following admission, the closed-ended investment company will elect to become a Real Estate Investment Trust (REIT). LSR said its investment policy is to focus on investments in local shopping assets in the UK to provide strong shareholder returns from both income and capital growth. As at February 28 2007, LSR has built a portfolio valued at £205.1m of property spread across 475 assets, with 1,465 letting units producing an overall net rental income of £13.6m per annum. It said the seed portfolio provides an attractive and secure income stream with good growth prospects o...
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