Capital & Regional PLC - London-based real estate investment trust focused on community shopping centres - Completes the sale of the residential development project at its 17&Central community shopping centre in Walthamstow, London, to the residential developer Long Harbour for GBP21.65 million.
This disposal is in line with the company's strategy of seeking ways to create value from its portfolio assets through the reconfiguring or repurposing of underutilised space for other uses, which also help drive footfall and operational performance. The group plans to use the majority of the proceeds received to further reduce its loan facility within The Mall Limited Partnership. In May, Capital & Regional sold The Mall, Blackburn to the retail arm of the Adhan Group of Companies for GBP40 million in cash.
London current stock price: 57.20 pence, unchanged on Monday
12-month change: down 23%
Johannesburg current stock price: ZAR11.14
12-month change: down 22%
By Artwell Dlamini; artwelldlamini@alliancenews.com
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Capital & Regional (CAL)