History

Company History

Capital & Regional has had a long history, owning an managing multiple retail and leisure interests in both the UK and abroad. 

 

2016

  • The Mall Camberley is sold to Surrey Heath Borough Council.
  • The Marlowes centre in Hemel Hempstead is acquired. 

2015

  • C&R and Drum Property Group acquire the Buttermarket Centre in Ipswich.
  • The group completes disposal of it's German portfolio.
  • Dramatic internal refurbishment of The Mall Walthamstow is completed and work begins on refurbishment works for The Mall Maidstone.

2014

  • C&R converts to a REIT on 31st December 2014. The REIT regime enables Capital & Regional to benefit from a zero corporation tax rate on qualifying property income and capital gains.
  • Acquisition of the Mall units completed with C&R now owning 100% of The Mall Fund. 
  • After successful completion of major development works the Waterside centre in Lincoln is sold to Tesco Pension Fund for consideration of £46.0 million at net initial yield of 5.88%.
  • Sale of Jaman Fields in Hemel Hempstead to Tesco Pension Fund is completed. 

2013

  • The Great Northern Warehouse in Manchester is sold, facilitating the Group to repay its last element of on balance sheet debt.
  • Sutton Coldfield and Uxbridge shopping centres are sold. 
  • The Groups sells its 11.9% stake in the X-Leisure Fund and its 50% interest in X-Leisure Limited to a subsidiary of Land Securities Group plc

2012

  • The Group sells its 50% stake in Xscape Braehead to joint venture partners Capital Shopping Centres
  • The Junction Fund is sold to subsidiaries of Hammerson plc
  • The Mall sells Norwich shopping centre
  • C&R and Oaktree Capital Management purchase the 1 million sq ft Kingfisher Shopping Centre in Redditch
  • The Group acquires additional units in The Mall Unit Trust. Group stake increased to 20.15% in The Mall Fund.

2011

  • The Mall sells Barnsley and Middlesbrough shopping centres
  • The Junction sells Porstmouth Retail Park
  • The Group purchases Waterside Shopping Centre in the Cathedral city of  Lincoln

2010

  • Sale of the Group's office premises at 10 Lower Grosvenor Place, London and adjoining Beeston Place property
  • The Mall sells Aberdeen, Preston and Ilford shopping centres
  • X-Leisure sells Grants, Croydon and Fiveways, Birmingham
  • The Junction sells Aylesbury and Hull retail parks
  • Sale of the Group's 30% interest in Manchester Arena
  • John Clare appointed Chairman
  • Acquisition of 30% share in Garigal Asset Management GmbH
  • Restructuring of Mall bonds and extension of fund life to 2017
  • The Mall sells four shopping centres at Falkirk, Gloucester, Romford and Southampton

 

2009

  • £69 million placing and open offer, with Parkdev as anchor investor, alongside renegotiation of Group banking facilities
  • £50 million rights issue in X-Leisure, alongside refinancing of banking facilities
  • Creation of X-Leisure Limited joint venture with Hermes
  • £64 million rights issue in The Junction with AREA as anchor investor, alongside refinancing of banking facilities
  • The Mall sells Bexleyheath shopping centre
  • The Junction sells Aberdeen and Slough retail parks, and the non-core industrial property at Portsmouth
  • X-Leisure sells the O2 Centre, Finchley Road, London
  • Sale of the remaining interest in the Cardiff joint venture

2008

  • Hugh Scott-Barrett appointed Chief Executive
  • The Mall sells three shopping centres at Epsom, Edgware and Chester
  • £286 million rights issue in The Mall
  • Sale of 50% of the German portfolio
  • Sale of 80% of the FIX UK portfolio
  • The Junction sells Great Western Retail Park, Glasgow; Templars Retail Park, Oxford; and St George's Retail Park, Leicester
  • Sale of the CostCo unit at Cardiff

2007

  • Cardiff development gains final approvals
  • The Junction sells Blackpole Retail Park, Worcester
  • Sale of Xscape Milton Keynes and Castleford to X-Leisure
  • Acquisition of portfolio of six FIX UK properties
  • X-Leisure sells Star City

2006

  • Further acquisitions in Germany for €379 million
  • Sale of Morfa Shopping Park, Swansea to The Junction
  • Junction sells four secondary retail parks for a combined total of £159.8 million
  • The Mall raises a further £375 million with Mall bond tap issue
  • Acquisition of 30% interest in Manchester Arena
  • Purchase of four shopping centres from Prudential for £537 million
  • The Mall sells two of the four centres acquired from Prudential.

2005

  • The Junction purchases the Kittybrewster Retail Park in Aberdeen
  • The Mall acquires Main Square Shopping Centre in Camberley, Surrey
  • The Junction purchases Telford Forge Retail Park and Slough Retail Park
  • The Mall Fund refinances £1.06 billion of bank debt, believed to be the largest single tranche of Sterling AAA rated Commercial Mortgage Backed Securities ever issued
  • Formation of a joint venture with the German property group Hahn AG, one of Germany's leading co-investing property asset managers, to acquire and actively manage out of town retail properties in Germany. Establishment of €110 million portfolio of eight out of town retail centres
  • Purchase of the T3 trade park portfolio, comprising 23 trade parks and ten industrial estates
  • Subsale of the ten industrial estates from the T3 portfolio

2004

  • Sale of Glasgow Fort Shopping Park
  • The Mall purchases Eastgate Shopping Centre, Gloucester and The Junction purchases the Courts unit at Thurrock
  • Establishment of the X-Leisure fund, formed from the combination of three existing funds previously managed by MWB, valued at £500 million
  • The Junction purchases The Great Western Retail Park, Glasgow and sells Cockhedge Shopping Park, Warrington

2003

  • Partnership with AWG in respect of the Great Northern leisure and commercial development in central Manchester
  • Acquisition of the fund management business of Marylebone Warwick Balfour
  • The Mall purchases the Grosvenor Centre, Chester
  • The Junction purchases a portfolio of retail parks from Kingfisher for £696 million

2002

  • Partnership established with Pillar Property to develop Glasgow's first major shopping park
  • The Junction acquires four retail parks for £145 million, in Stoke, Thurrock, Ipswich and Warrington
  • Construction commences on the second Xscape in Castleford, Leeds

2001

  • Formation of two new property funds with Morley Fund Management Ltd. The Mall Fund, focused on in-town covered shopping centres, initially comprises 11 shopping centres. The Junction Fund, focused on major retail parks, comprises 11 parks

2000

  • New Board structure announced: Tom Chandos appointed Chairman and Martin Barber Chief Executive
  • Company name changed from Capital and Regional Properties plc to Capital & Regional plc

Earlier

  • 1999
    • Announced re-designed corporate logo and moved to new offices
    • Acquisition of The Ashley Shopping Centre, Epsom and St Andrew's Quay Retail Park, Hull
  • 1998
    • Started construction of Xscape in Milton Keynes
    • Acquired Westway Shopping Park, Greenford
    • Acquisition of The Pallasades Shopping Centre, Birmingham
    • 2 for 7 Rights Issue of 21.8 million new ordinary shares at 280p per share
  • 1997
    • Agreement to acquire the 75.1% interest in Lanham PLC which Capital & Regional did not already own
    • Acquisition of shopping centre portfolio for £147 million including The Howgate Shopping Centre, Falkirk; The Sauchiehall Centre, Glasgow; The Alhambra Shopping Centre, Barnsley; Selbourne Walk, Walthamstow; Liberty 2, Romford
  • 1996
    • £75.6 million of acquisitions made during the year including Shopping City, Wood Green
    • £26 million Convertible Subordinated Unsecured Loan Stock Issue
  • 1995
    • £50 million spent on UK acquisitions (including joint venture acquisitions)
    • Creation of joint venture partnerships with JLW Finance
    • Moved to the Official list of the London Stock Exchange
  • 1994
    • £51 million spent on UK acquisitions, including Eldon Garden Shopping Centre, Newcastle
    • Rights issue raising £25.3 million
  • 1993
    • £42 million spent on UK acquisitions, including The Trinity Shopping Centre, Aberdeen
    • Four share issues raising £17.9 million
    • Second joint venture partnership with PDFM Limited
    • US Flotation of CenterPoint as a publicly traded Real Estate Investment Trust (REIT) through $126 million offering
  • 1992
    • £14 million spent on UK acquisitions
    • Creation of joint venture partnerships with Securum and PDFM Limited
  • 1991
    • Placing and Open Offer to shareholders raising £5.7 million
    • Creation of joint venture partnership with Charterhouse Bank
  • 1988
    • Sold 60% of UK portfolio
  • 1986
    • Capital and Regional Properties was floated on the Unlisted Securities Market of the London Stock Exchange
  • 1983
    • Formation of USA subsidiary, CenterPoint Properties Corporation, Illinois
  • 1979
    • Capital and Regional Properties was formed in 1979