Proposed Planning Application

Capital & Regional PLC
30 June 2000

                                                                              
               CAPITAL & REGIONAL SUBMITS PLANNING APPLICATION                
                   TO DEVELOP ST ANDREW'S QUAY RETAIL PARK                    
                              
Capital & Regional plc, the specialist retail and leisure property investment
company, announces today that it has submitted a planning application to Hull
City Council to develop Phases I and II, at St Andrew's Quay Retail Park to
significantly upgrade this gateway site, at an estimated construction cost of
£8 million.

The proposed planning application developments are to:
* Modernise the existing terrace of retail warehouse units.
* Construct a new 100,000 sq ft B&Q depot with an ancillary garden centre and
  a building supplies compound which, when fully operational, will provide
  approximately 250 new jobs.
* Improve public transport access to the site.
* Improve pedestrian movement around the site. 
* Improve landscaping and services to the site.

The development will involve two phases.  Phase I involves the upgrading of
the existing 77,000 sq ft of retail space; this comprises units already let to
Focus DIY, Halfords, Shoe City, Comet and Miller Bros.  Phase II comprises a
5.85 acre site and will involve the construction of 100,000 sq ft of new
retail space for B&Q. 

Andrew Lewis-Pratt, Executive Director of Capital & Regional said: 'This is
the first key step in our plans to regenerate this 75 acre site. We intend to
improve the entire St Andrew's Quay site in a planned programme of phased
investment and development. 

'An important part of the programme is attracting major retailers, such as
B&Q, to a well equipped retail and leisure park.  In turn, this encourages
customers to St Andrew's Quay, who can take full advantage of the park's
prominent location - half a mile to the west of Hull City Centre and a 1.25
mile frontage to the A63 linking directly to the M62.'

Andrew concluded: 'We look forward to starting our programme of phased
development at St Andrew's Quay, to create one of the most exciting retail and
leisure destinations for the people of Hull and visitors to the area.  Whilst
developing a modern environment, we will also be mindful of retaining its
historical heritage.'

Notes to editors: 
1. St Andrew's Quay also includes, a Makro store, a Drive Thru McDonald's,
petrol station and a waterfront family pub, which are all let on long ground
leases.
2. The remaining undeveloped land is 32.8 acres. St Andrew's Dock is 15.3
acres and has consent for 150,000 sq ft of leisure development.   The
remaining 17.5 acres, to the west of Makro, is allocated for employment use
(ie offices, manufacturing and distribution premises).
3. Capital & Regional is represented by planning consultants, Fisher Wilson.
4. Capital & Regional acquired St Andrew's Quay Retail and Leisure Park from
Associated British Ports and Waterside Group for £24 million in December 1999.


For further information please contact:
Sarah Carrell, Head of Corporate Communications, Capital & Regional - 0207 932
8120