StockMarketWire.com - Capital & Counties said had positioned itself as a central London property investment business following the sale of its stake in Earls Court for £425m and would convert to UK REIT status before the end of 2019.

The company said its central London property investment business would be concentrated around Covent Garden, as The West End offered 'greater insulation from the well-documented wider retail challenges'. But the area was 'not immune with certain retailers taking a more conservative view, as a result of broader political and macro-economic uncertainty and occupational cost pressures,' it added.

Recent signings across the estate included Big Mamma on Henrietta Street, L'Occitane in the Market Building, Pandora on James Street, A.P.C. on Floral Street and Lulu Guinness on King Street.

Capital & Counties also said it had exchanged contracts to acquire the freehold interest of 5-6 Henrietta Street for £34m, with completion expected later this week.

The multi-let building produced an annual rental income of £1.2m.

At 8:53am: [LON:CAPC] Capital Counties Properties PLC share price was +1p at 243.4p



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