R&F in Conditional Pact to Sell London Nine Elms Holding Company

R&F Properties entered into letter of intent for conditional agreement to sell the holding company of Market Towers, 1 Nine Elms Lane in London, according to a filing.

• Consideration is HK$1 plus the assignment of loan, with minimum principal amount of of $800m under exchange offers
  • Gross development value of the freehold interest in the property is £1.34b
• Holding company also owns R&F One Nine Elms (UK) Limited and R&F One Hotel (UK) Limited
  • Property could offer 437 private residential units along with a hotel
• Says disposal will help ease the liability and interest burden of the company
• Buyer ...