MAX Max Prop

 
TIDMMAX 
 
Max Property Group Plc 
 
Max continues capital recycling with  GBP6.3m of London pub sales 
 
Max Property Group Plc ("Max") announces that it has completed the disposal of 
the sale of the Bedford public house in Balham to CRS Properties Ltd (part of 
The Co-operative Group) for  GBP4.3m, reflecting a net initial yield of 5.5%. 
 
The property forms part of the portfolio of 29 London pubs that Max acquired in 
a sale and leaseback transaction with Enterprise Inns Plc in January 2011 at a 
total price of  GBP42.56m reflecting a 6.7% net initial yield.  Each of the pubs is 
let to Enterprise Inns plc for 35 years with minimum uplifts throughout the 
term. 
 
Since the portfolio acquisition in January, Max has completed the sale of one 
other non core property out of the portfolio, namely the Rose and Crown, 
Chelsea, for cash consideration of  GBP2.1m, reflecting a net initial yield of 
4.5%. 
 
Total net proceeds realised in the two sales will be  GBP6.3m of which  GBP3.3m will 
be applied in repayment of debt and  GBP3.0m will be added to the group's cash 
resources. 
 
7 July 2011 
 
 
 
ENQUIRIES: 
 
 Prestbury Investments LLP         Tel: 020 7647 7647 
 
 Nick Leslau 
 
 Mike Brown 
 
 
 
 College Hill                      Tel: 020 7457 2020 
 
 Gareth David 
 
 
 
 Morgan Stanley (NOMAD)            Tel: 020 7425 8000 
 
 Nick White 
 
 
 
 Oriel Securities (Joint Broker)   Tel: 020 7710 7600 
 
 Mark Young 
 
 
 
 
 
 
 
 
This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
 
Source: Max Property Group plc via Thomson Reuters ONE 
 
[HUG#1529311] 
 

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