13th Jul 2012 07:00
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: 020 7932 8000
Charles Staveley, Group Finance Director Tel: 020 7932 8000
Maitland:
Martin Leeburn Tel: 020 7379 5151
Emma Burdett Tel: 020 7379 5151
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
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