Last checked at 17 Mar 2023 07:00
17 March 2023
CAPITAL & REGIONAL PLC ("Capital & Regional" or "the Group" or "the Company")
UK company number 01399411
LSE share code: CAL
ISIN: GB00BL6XZ716
LEI: 21380097W74N9OYF5Z25
DISPOSAL OF THE MALL, LUTON
The Company confirms that the sale of its interest in The Mall, Luton shopping centre completed on 16 March 2023. The disposal follows a sale process undertaken with the consent of the secured lender on the related loan facility. Capital & Regional had previously deconsolidated its interest in The Mall, Luton meaning the gross assets related to the investment are nil and therefore the transaction does not result in any profit or loss on disposal to the Group.
The Mall, Luton and its corporate structure has been acquired by SDI (Luton) Limited and SDI (Luton 2) Limited for cash consideration of £58 million. The net proceeds will be remitted to the secured lender. In line with the disclosure made in the Company's Year End results announcement on 2 March 2023, the Group's involvement as Property and Asset Manager, for which it generated fees of £1.4 million in 2022, has ceased, effective from the date of the disposal.
For further information:
Capital & Regional plc 020 7932 8000
Lawrence Hutchings
Stuart Wetherly
FTI Consulting 020 3727 1000
Richard Sunderland
Maria Saud
capreg@fticonsulting.com
About Capital & Regional plc
Capital & Regional is a UK focused specialist property REIT with a strong track record of delivering significant value enhancing retail and leisure asset management opportunities across its portfolio of in-town, dominant community shopping centres.
Capital & Regional owns and/or manages shopping centres in Hemel Hempstead, Ilford, Maidstone, Redditch, Walthamstow and Wood Green. Capital & Regional manages these assets through its in-house expert property and asset management platform.
For further information see www.capreg.com.