15 October 2020
CAPITAL & REGIONAL PLC ("Capital & Regional" or "the Company" or "the Group")
UK company number 01399411
LSE share code: CAL
ISIN: GB00BL6XZ716
LEI: 21380097W74N9OYF5Z25
UPDATE ON TRADING AND RENT RECEIPTS
Capital & Regional today provides an update on trading and rent collections following the 29 September quarter date and October monthly collection cycles.
Lawrence Hutchings, CEO of Capital & Regional said: "The in-town location of our centres, together with our focused strategy of serving the essential needs of our local communities, means they are benefitting from the increased number of people working from home and are performing well on a relative basis, with 98% of stores now trading and September footfall outperforming the national index by 11%. Furthermore, feedback from our retailers indicates that average transaction values are registering higher than the comparable period last year, with shopper visits being purpose driven. Rent collection is now in excess of 50% for the September quarter which is ahead of both our previous two COVID quarters at the equivalent stage and above the national retail average. We have also progressed several key initiatives aligned to our strategy including unconditionality of the Lidl deal at Luton, further increasing our exposure to the grocery market, and the lodging of a joint planning application with our preferred residential partner for the Walthamstow project bringing us a step closer to realisation of a capital receipt for this project."
Operations
Liquidity
Our overriding priority remains the health, safety and protection of our colleagues, guests and customers and throughout the pandemic we have been implementing the latest official government guidelines and advice across our portfolio.
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For further information:
Capital & Regional plc 020 7932 8000
Lawrence Hutchings
Stuart Wetherly
FTI Consulting 020 3727 1000
Richard Sunderland
Claire Turvey
Methuselah Tanyanyiwa
About Capital & Regional plc:
Capital & Regional is a UK focused retail property REIT specialising in shopping centres that dominate their catchment, serving the non-discretionary and value orientated needs of the local communities. It has a strong track record of delivering value enhancing retail and leisure asset management opportunities across its portfolio of in-town shopping centres.
Capital & Regional owns seven shopping centres in Blackburn, Hemel Hempstead, Ilford, Luton, Maidstone, Walthamstow and Wood Green. Capital & Regional manages these assets through its in-house expert property and asset management platform.
Capital & Regional is listed on the main market of the London Stock Exchange (LSE) and has a secondary listing on the Johannesburg Stock Exchange (JSE)
For further information see capreg.com/