The Mall Limited Partnership (the “Fund”) Asset Sales

The Mall Fund has today agreed to sell three assets to the Carlyle Group for £286 million, representing an initial yield of 6 per cent.

The properties are shopping centres in Chester, Epsom and Edgware, with the sale expected to complete in early July.

Morley’s Karen Fox, Fund Manager for the Mall Fund said: “The proceeds from the sale will be available to reduce gearing in the Fund, further strengthening its financial position following the successful open offer which went unconditional earlier today.

The managers are now able to totally focus on driving forward performance from a position of far greater financial strength”.

 

ENDS

For more information contact:
Angela Warburton
Morley Corporate Communications
+44 (0)20 7809 8618

 

Notes to Editors:

The Mall Fund is an unregulated collective investment scheme for the purpose of the UK Financial Services and Markets Act. Information regarding the scheme is therefore intended only for those to whom the scheme can be promoted under the Act.  As this is an unregulated collective investment scheme all or most of the protections provided by the UK regulatory system do not apply and compensation under the Financial Services Compensation Scheme will not be available.  Information regarding the scheme should not be regarded as constituting an offer to invest.

Morley Fund Management Limited
No. 1 Poultry, London EC2R 8EJ
Phone +44 (0)20 7809 6000
Fax +44 (0)20 7489 7940
Web www.morleyfm.com
Email info@morleyfm.com Morley is a business name of Morley Fund Management Limited, registered in England No. 1151805.  Registered Office: No. 1 Poultry, London EC2R 8EJ.  Authorised and regulated in the UK by the Financial Services Authority and a member of the Investment Management Association. Morley is also a business name of Morley Fund Services Limited and Morley Pooled Pensions Limited.  All are Aviva companies. Telephone calls may be recorded for training and monitoring purposes. MFM\08\660

 

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