CPP Cppgroup Plc

RNS No 4375k
CAPITAL & REGIONAL PROPERTIES PLC
25th June 1998


                                                                              
                        CAPITAL AND REGIONAL ACQUIRES                         

                     LANCASTER CITY RETAIL PARK FOR #13M                     

Capital and Regional Properties plc, the specialist retail and leisure
property investment company, today announces that it has completed the
purchase of Lancaster and Morecambe's premier retail park, Lancaster City
Retail Park, from BG Staff Pension Fund for #13,150,000.

The 102,544 sq ft (9,527 sq m) development comprises seven retail warehouse
units, with tenants including MFI, Fads, Carpetright, Harveys, Kingsbury and
Wickes.  The retail park is located approximately two miles North West of
Lancaster City centre.  The average rent is #8.50 per sq ft.

Commenting on the acquisition, Andrew Lewis-Pratt, Director of Capital and
Regional said:

"We believe there are opportunities for improvements through a restructuring
programme of tenant mix, lease reconstruction and extensions to the estate."

BG Staff Pension Fund was advised by Weatherall Green & Smith.  


For further information please contact:

Andrew Lewis-Pratt, Capital and Regional Properties        0171 499 5360
Sarah Carrell, Capital and Regional Properties             0171 730 5565


END

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