Meadowhall investors return to main market
Published: 05 August, 2010
Property veterans Raymond Mould and Patrick Vaughan, founders of Arlington Securities and Pillar Property, are returning to the London Stock Exchange as their new vehicle London & Stamford Property converts to REIT status.
London & Stamford was founded three years ago and floated on the Alternative Investment Market, since when it has amassed a £620m portfolio of prime assets including a 15.7 per cent stake in Meadowhall through a joint venture with British Land.
In a Stock Exchange announcement the company said: “The LSP Board believes that the long-term future of the business and the interests of LSP Shareholders as a whole is best served by converting to UK-REIT status, becoming a permanent life vehicle to capture fully the long-term benefits of REIT conversion and by internalising its management.”
