Fund Valuations

RNS Number : 0860P

Capital & Regional plc

19 October 2012

 

19 October 2012

Capital & Regional plc

Quarterly Fund Valuations

Capital & Regional plc ('C&R') today announces that the unit values of The Mall and the X-Leisure Funds as at 30 September 2012 were as follows: 

Fund	Valuation of    properties	Underlying valuation change in period 1	Change in unit value (geared) in period	Net initial yield	Unit value at 30 September  2012	Unit value at 30 June   2012	C&R percentage of fund 2
The Mall Fund	£848,600,000	(1.1)%	(1.7)%	6.94%	£0.3830	£0.3895	20.1%
X-Leisure Fund	£580,550,000	0.6%	1.2%	6.32%	£0.3716	£0.3672	11.9%

¹   The underlying valuation change shows the like for like increase / (decrease) in the value of the portfolio in the quarter as a percentage of the value of the portfolio at the beginning of the period.

²   At 30 September 2012 Capital & Regional owned the following number of units in each fund: The Mall 190,005,537, and X-Leisure 91,949,578.  

Commenting on the valuations Hugh Scott-Barrett said:

"Growth in valued income across the portfolio has largely offset outward yield shift outside London and the South East. This reflects the impact of significant asset management activity which has gathered momentum during the third quarter."

Further details and an update on current trading conditions will be provided in the Group's Q3 interim management statement which will be issued on 9 November.

- ENDS -

For further information:

Capital & Regional:

Hugh Scott-Barrett, Chief Executive                                       Tel:  [phone]

Charles Staveley, Group Finance Director                             Tel:  [phone]

Maitland:

Martin Leeburn                                                                        Tel:  [phone]

Emma Burdett                                                                        Tel:  [phone]

Notes to editors:

About Capital & Regional plc

Capital & Regional is a specialist property company with a track record of developing asset management opportunities in town centre shopping centres and out of town retail parks.

Capital & Regional founded The Mall Fund in conjunction with Aviva Investors. Capital & Regional acts as Property and Asset Manager for the Mall and holds 20.1% of the Fund.

Capital & Regional & AREA Property Partners each hold a 50% interest in a German retail property portfolio which is managed by Garigal Asset Management GmbH, in which Capital & Regional holds a 30% interest. 

Capital & Regional also has an 11.9% stake in the X-Leisure fund, which is managed by X-Leisure Limited in which Capital & Regional holds a 50% interest.

Capital & Regional has a number of other joint ventures and wholly-owned properties.

For further information see www.capreg.com

 

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