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Capital & Regional PLC - London-based real estate investment trust focused on community shopping centres - Continues to see positive operational momentum, with a solid performance over the Christmas trading period. December footfall increases by 33% on 2020, outperforming the national index by 13% and represents about 74% of footfall for the equivalent period in 2019. Of the quarterly rent due on December 25, the company received 91% compared to less than 60% for the equivalent quarter at the same point a year ago. Company says leasing activity has helped increase occupancy to 93% at the end of December, an improvement of 3% since the end of September 2021.
In three months ended December 31, Capital & Regional completed a further 34 new lettings and renewals for a combined value of GBP1.5 million, which is in aggregate above the previous rent and estimated rental value. On December 23, the group completed the disposal of a long-leasehold interest in the Maidstone House office block within its Maidstone shopping centre to Maidstone Borough Council for GBP7.07 million.
Current stock price: ZAR11.80, unchanged
Year-to-date change: down 24%
By Artwell Dlamini; artwelldlamini@alliancenews.com
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