Capital & Regional

Capital & Regional plc
Company typePublic
LSE: CAL
IndustryProperty
Founded1979
HeadquartersLondon, UK
Key people
Hugh Scott-Barrett, Chairman
Lawrence Hutchings, CEO
RevenueIncrease £59.0 million (2023)[1]
Decrease £9.5 million (2023)[1]
Decrease £3.7 million (2023)[1]
Websitewww.capreg.com

Capital & Regional plc is a large British manager of property assets - mainly shopping centres - for funds in which it has a significant stake.

History

The company was founded in 1979 as Capital & Regional Properties. It was floated on the Unlisted Securities Market in 1986. In 1993 it acquired the Trinity Shopping Centre in Aberdeen[2] and in 1994 the Eldon Garden Shopping Centre in Newcastle upon Tyne.[3] In 1997 it went on to buy the Sauchiehall Shopping Centre in Glasgow[4] and in 1998 the Pallasades Shopping Centre in Birmingham.[5]

In 2001 it established the Mall Fund and the Junction Fund with Morley Fund Management and in 2008 the company commenced negotiations for extra funding for the Mall Fund.[6]

In September 2024, the company accepted a takeover offer from NewRiver worth £147 million.[7]

Structure

The company has two divisions:

  • Earnings business - property management
  • Assets business - fund investing

References

  1. ^ a b c "Annual Results 2023" (PDF). Capital & Regional. Retrieved 30 April 2024.
  2. ^ Connon, Heather (6 May 1993). "Capital & Regional buys Aberdeen shop complex". The Independent. Retrieved 10 May 2016.
  3. ^ "Capital and Regional buys shopping centre". Financial Times. 1994. Retrieved 27 April 2018.
  4. ^ "Capital & Regional takes asset hit". Citywire. 20 March 2001. Retrieved 27 April 2018.
  5. ^ "£93.8m acquisition of the Pallasades Shopping Centre, Birmingham from Fordgate". The Lawyer. 13 April 1998. Retrieved 27 April 2018.
  6. ^ "Capital & Regional's Mall fund needs £300m". The Telegraph. 16 May 2008. Retrieved 27 April 2018.
  7. ^ "NewRiver REIT agrees to acquire Capital & Regional - deal values it at approximately £147m". Insider Media. 24 September 2024. Retrieved 5 December 2024.

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