Quarterly Fund Valuations

RNS Number : 5690H

Capital & Regional plc

13 July 2012

 



13 July 2012

Capital & Regional plc

Quarterly Fund Valuations

Capital & Regional plc ('C&R') today announces that the unit values of The Mall, The Junction and the X-Leisure Funds as at 30 June 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 June   2012	Unit value at 31 March 2012	C&R percentage of fund 2
The Mall Fund	£934,194,633	(2.0)%	(3.9)%	6.92%	£0.3895	£0.4052	20.1%
The Junction Fund	£285,142,537	(0.7)%	(0.6)%	5.64%	£0.2041	£0.2053	13.4%
X-Leisure Fund	£575,100,000	0.2%	0.4%	6.46%	£0.3672	£0.3657	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 June 2012 Capital & Regional own the following number of units in each fund: The Mall 190,005,537, The Junction 88,261,870, and X-Leisure 91,949,578.  

Commenting on the valuations Hugh Scott-Barrett said:

"Continuing investment activity and stable valued income has underpinned valuation gains in the Greater London Mall schemes. This has cushioned the Mall portfolio value against outward yield shift and loss of income outside of Greater London."

Further details and an update on current trading conditions will be provided in the Group's interim results statement which will be issued on 15 August 2012.

- 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 and The Junction funds in conjunction with Aviva Investors. Capital & Regional acts as Property and Asset Manager for the Mall and Junction funds and holds 20.1% and 13.4% respectively of these funds.

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

 

END

 

 

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