Capital & Regional

Last updated
Capital & Regional plc
Company type Public
LSE:  CAL
Industry Property
Founded1979
Headquarters London, UK
Key people
Hugh Scott-Barrett, Chairman
Lawrence Hutchings, CEO
RevenueIncrease2.svg £59.0 million (2023) [1]
Decrease2.svg £9.5 million (2023) [1]
Decrease2.svg £3.7 million (2023) [1]
Website www.capreg.com

Capital & Regional plc was a large British manager of property assets - mainly shopping centres - for funds in which it has a significant stake, until it was acquired by NewRiver in December 2024.

Contents

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] The transaction was completed three months later. [8]

Structure

The company has two divisions:

References

  1. 1 2 3 "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.
  8. ↑ "NewRiver REIT Completes £147 Million Acquisition of Capital & Regional, Creating £2.4 Billion Retail Property Portfolio". Ukreiif. 12 December 2024. Retrieved 30 January 2025.
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