Capital & Regional plc Completion of Acquisition (4806L)
September 06 2023 - 3:00AM
UK Regulatory
TIDMCAL
RNS Number : 4806L
Capital & Regional plc
06 September 2023
6 September 2023
UK company number 01399411
LSE share code: CAL
JSE share code: CRP
ISIN: GB00BL6XZ716
LEI: 21380097W74N9OYF5Z25
CAPITAL & REGIONAL PLC
("Capital & Regional")
Completion of Acquisition
Capital & Regional (LSE: CAL), the UK focused REIT with a
portfolio of community shopping centres, is pleased to announce
that, further to the announcements on 10 August 2023 and 25 August
2023 and following the successful Capital Raising, it has now
completed on the acquisition of The Gyle Shopping Centre in
Edinburgh.
Lawrence Hutchings, Chief Executive Officer, comments: " The
acquisition of The Gyle Shopping Centre, supported by the
successful equity raise reflects the confidence that investors have
in our needs based non-discretionary community centre strategy, our
management platform and portfolio. These Grocery anchored centres
are part of essential community infrastructure and continue to
demonstrate the resilience and importance of physical stores to
retailers.
"This established dual supermarket anchored community centre
offers a number of asset management opportunities to create value,
leveraging our expertise to improve occupancy and income. The
acquisition will be accretive to income from day one, enhancing
earnings in the first full year of ownership and thereby generating
attractive risk-adjusted returns for shareholders.
"We would like to thank all of those involved in bringing this
transaction to a successful conclusion."
Defined terms in this announcement bear the same meanings as in
the prospectus published by the Company on 10 August 2023.
- ENDS -
For further information:
Capital & Regional plc 020 7932 8000
Lawrence Hutchings
Stuart Wetherly
Panmure Gordon (UK) Limited (Sponsor, Joint Financial Adviser
and Joint Broker)
Amrit Mahbubani 020 7886 2500
Atholl Tweedie
Ailsa Macmaster
David Watkins
Numis Securities Limited (Joint Financial Adviser and Joint
Broker)
Ben Stoop 020 7260 1000
Will Rance
Java Capital (JSE Sponsor)
Shivani Bhikha +27(0)78 120 6931
Daniel Ross +27(0)83 716 8665
FTI Consulting
Richard Sunderland 020 3727 1000
Maria Saud
Oliver Parsons
capreg@fticonsulting.com
About Capital & Regional plc:
Capital & Regional is a UK focused retail property REIT
specialising in shopping centres that dominate their catchment,
serving the non-discretionary and value orientated needs of the
local communities. It has a track record of delivering value
enhancing retail and leisure asset management opportunities across
a portfolio of tailored in-town community shopping centres.
Using its expert property and asset management platform Capital
& Regional owns and manages shopping centres in Edinburgh,
Hemel Hempstead, Ilford, Maidstone, Walthamstow and Wood Green.
Capital & Regional is listed on the main market of the
London Stock Exchange (LSE) and has a secondary listing on the
Johannesburg Stock Exchange (JSE).
For further information see www.capreg.com .
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END
ACQSSEFAIEDSEFU
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September 06, 2023 04:00 ET (08:00 GMT)
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