Investor sells £10m stake in Rushden Lakes

LXB Retail Properties has sold its stake in Northants retail park Rushden Lakes in a deal that could be worth over £10m.

LXB has received an initaial payment of £7.5m for the exit.

Phase 3 at Rushden Lakes is now fully let after the final letting to Hobbycraft; practical cCompletion occurred in early July and all tenants have now taken access. A further cash receipt of £2.7m is expected once the five leases are completed with the tenants, which is expected within the next four to six weeks.