| Thu 24 Nov 2011, 15:36 | | CSO - Capital Shopping Centres Group Plc - Capital Shopping Centres announces |
|
CSO
CSO
CSO - Capital Shopping Centres Group Plc - Capital Shopping Centres announces
acquisition of remaining 25% of Broadmarsh Centre, Nottingham
CAPITAL SHOPPING CENTRES GROUP PLC
(Registration number UK3685527)
ISIN Code: GB0006834344
JSE Code: CSO
Issuer Code: CSCSCG
Press Release
24 November 2011
Capital Shopping Centres announces acquisition of remaining 25% of Broadmarsh
Centre, Nottingham
Capital Shopping Centres (CSC) today announced that it has agreed terms to
acquire the remaining 25% interest in Broadmarsh in Nottingham from Possfund
Custodian Trustee Limited (represented by LaSalle Investment Management) for a
consideration of GBP18.3 million. This follows the agreement earlier this month
to acquire Westfield`s 75% interest in the shopping centre for GBP55 million.
CSC will now own 100% of the Broadmarsh Retail Limited Partnership which owns
the 487,000 sq ft shopping centre. Broadmarsh comprises circa 80 units
anchored by BHS, Argos, Boots and Wilkinsons with annual footfall of 17 million.
CSC owns 100% of the Victoria Centre, Nottingham and has submitted a planning
application, which we expect to be determined in the near future, for a 540,000
sq ft extension to the centre following a public consultation that attracted
substantial local support.
Commenting on the acquisition, David Fischel, CSC`s chief executive, said:
"CSC is delighted to have acquired this important asset in Nottingham. Common
ownership of Victoria Centre and Broadmarsh greatly improves the prospect of
transformational retail and leisure led development taking place within the city
to the benefit of the local and wider Nottingham community."
He continued,
"The Victoria Centre has been at the heart of Nottingham for over 40 years and
this acquisition further underlines our commitment to the city, which is one of
the UK`s top ranking retail destinations. We look forward to working with
Nottingham City Council on this exciting opportunity."
Completion of the overall transaction is expected to take place within the
coming weeks.
ENQUIRIES:
Capital Shopping Centres Group PLC:
David Fischel Chief Executive +44 (0)20 7960 1207
Matthew Roberts Finance Director +44 (0)20 7960 1353
Kate Bowyer Investor Relations Manager +44 (0)20 7960 1250
Public relations:
UK: Michael Sandler, Hudson Sandler +44 (0)20 7796 4133
Wendy Baker, Hudson Sandler +44 (0)20 7710 8917
SA: Nicholas Williams, College Hill +27 (0)11 447 3030
Sponsor:
Merrill Lynch SA (Pty) Limited
NOTES TO EDITORS:
Capital Shopping Centres is the leading specialist UK regional shopping
centre REIT.
Capital Shopping Centres Group PLC (CSC) is the UK`s leading specialist
developer, manager and owner of pre-eminent regional shopping centres. With
a portfolio of 14 centres representing 16 million sq ft of retail space and
a valuation of GBP6.9 billion CSC`s assets attract well over 300 million
customers a year.
CSC`s assets comprise five major out-of-town centres including four of the
UK`s top six - Trafford Centre, Manchester; Lakeside, Thurrock; Metrocentre,
Gateshead; Braehead, Glasgow and The Mall at Cribbs Causeway, Bristol - and
nine in-town centres including centres in prime destinations such as
Cardiff, Manchester, Newcastle, Norwich and Nottingham.
With a dedicated and skilled management team CSC aims to be the landlord of
choice for retailers and to provide compelling destinations for shoppers.
It is a responsible and environmentally conscious participant in the
communities where it invests.
In April 2011 CSC was recognised as the UK`s Top Shopping Centre Investment
Manager in Going Shopping 2011 -- The Definitive Guide to Shopping Centres
published by Trevor Wood Associates.
For further information see www.capital-shopping-centres.co.uk
--- Ends ---
Date: 24/11/2011 15:36:41 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
