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RNS Number : 5864L 
London & Stamford Property Ltd 
10 May 2010 
 

LONDON & STAMFORD PROPERTY LIMITED 
Registration No. 47816 
 
Registered Office: 
2ND FLOOR, REGENCY COURT, GLATEGNY ESPLANADE, ST. PETER PORT, 
GUERNSEY, GY1 3NQ. 
___________________________ 
 
TELEPHONE:  + 44 1481 720321 
FACSIMILE:  + 44 1481 716117 
EMAIL:  Funds@bfgl.com 
 
10 May 2010 
                       LONDON & STAMFORD PROPERTY LIMITED 
     Acquisition of the Radial Distribution Limited portfolio for GBP208.5m 
London & Stamford Property Limited ("London & Stamford") (AIM: LSP), today 
announces that it has exchanged contracts with Warner Estate Joint Ventures 
Limited and Uberior Ventures Limited to acquire Radial Distribution Limited 
("Radial") for GBP208.5m (excl. costs). 
 
The Radial portfolio consists of 16 prime distribution warehouses totalling 3.4m 
sq ft (total site area of 165 acres), in prime locations across the UK. Of the 
16 units, 13 are located in the Midlands and one in Scotland, the South East and 
the South West. 
 
There are 13 tenants in total, including Tesco PLC, Travis Perkins plc, Eddie 
Stobart Limited, Kuhne & Nagel and Northrop Grumman.  The portfolio has a 
weighted average unexpired lease term of 6.23 years. The current passing rent of 
the portfolio is GBP17.36m per annum from 14 of the 16 units.   There are 
currently two vacant units and once fully let the portfolio is expected to 
produce an annual rental income of GBP18.91m, which equates to a property net 
initial yield of 8.75%. 
 
The transaction will be financed out of existing cash resources and using the 
debt available under London & Stamford's existing GBP150m loan facility with 
Bank of Scotland.  This will generate an equity yield of 15.30% initially rising 
to 18.5% once full letting is achieved. 
 
London & Stamford will hold a 94% interest in Radial, with Anglesea Capital 
holding the remaining 6%. Anglesea Capital is a distribution sector specialist 
and will work closely with LSI as asset manager of the portfolio. 
 
M3 and Savills acted for both London & Stamford Property Limited and Anglesea 
Capital. 
 
Raymond Mould, the Non-executive Chairman of London & Stamford Property, said: 
 
"We are delighted to have made this excellent acquisition for London & Stamford 
alongside its joint venture partner Anglesea Capital. The portfolio represents 
exceptional value and combines prime quality assets in prime locations, good 
tenant mix, secure income and an attractive cash on equity return." 
 
+----------------------------------------------+-----------------+ 
| Enquiries:                                   |                 | 
+----------------------------------------------+-----------------+ 
| Kreab Gavin Anderson                         | Tel: +44 (0)20  | 
| Richard Constant / James Benjamin / Anthony  | 7074 1800       | 
| Hughes                                       |                 | 
+----------------------------------------------+-----------------+ 
|                                              |                 | 
+----------------------------------------------+-----------------+ 
| London & Stamford Property Limited           | Tel: +44        | 
| Rochelle Thompson                            | (0)1481 733 315 | 
| Butterfield Fulcrum Group (Guernsey)         |                 | 
| Limited,                                     |                 | 
| Company Secretary                            |                 | 
+----------------------------------------------+-----------------+ 
|                                              |                 | 
+----------------------------------------------+-----------------+ 
| KBC Peel Hunt                                | Tel: +44 (0) 20 | 
| Capel Irwin / David Anderson / Nicholas      | 7418 8900       | 
| Marren                                       |                 | 
+----------------------------------------------+-----------------+ 
 
Notes to Editors 
London & Stamford Property, a closed-ended investment company based in Guernsey, 
is advised by LSI Management LLP ("LSIM") which has a highly experienced 
management team. The principal partners of LSIM include Raymond Mould, Patrick 
Vaughan, Martin McGann, Jeremy Bishop and Stewart Little. Raymond Mould, Patrick 
Vaughan and Martin McGann are also non-executive directors of London & Stamford 
Property. 
 
The Company was established on 1 October 2007 in order to exploit opportunities 
that it anticipated in the UK property cycles to invest principally in 
commercial property. 
 
The Company raised GBP247.5 million (gross proceeds) through a placing in 
November 2007 when it was admitted to trading on AIM (LSP.L). 
 
In October 2007, the Company entered into a five year revolving credit facility 
with Bank of Scotland for GBP150 million.  The facility is extendable by the 
Company for a further two years and carries a margin of 80 basis points over 
LIBOR. 
 
The Company made no acquisitions during 2008, considering that market conditions 
did not offer sufficient value.  It made six new investments in 2009 using 
GBP190 million of equity. 
 
In July 2009, the Company raised a further GBP225.8 million (gross proceeds) 
through a placing and open offer. 
 
Further information on London & Stamford Property is available from the 
Company's website www.londonandstamford.com 
 
Mayfair based Anglesea Capital was set up in June 2009 by Rhys Lewis, former 
principal and head of UK at Rockpoint (a US based Opportunity Fund operating 
from offices in the US, Frankfurt, London and Tokyo).  The formation of the 
joint venture to acquire Radial represents Anglesea Capital's second acquisition 
in the distribution warehousing sector following the June 2009 formation of a 
Joint Venture with Rockpoint, to acquire and asset manage a GBP260 million 
portfolio of UK distribution warehouses. 
                                      END 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 ACQUGUBCAUPUGMM 
 

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