Capital Shopping Centres acquires Xscape Braehead
Capital Shopping Centres is the sole owner of Xscape Braehead Partnership after acquiring the remaining stake in the company.
Capital Shopping Centres is the sole owner of Xscape Braehead Partnership after acquiring the remaining stake in the company.
The FTSE firm has purchased Capital & Regional's 50% interest in Xscape Braehead - which owns the family entertainment destination adjacent to its Braehead shopping centre - for consideration of £4.0m.
Xscape Braehead has snow slopes with urban and lifestyle retailers, bars and restaurants, a 12-screen cinema, family attractions and extreme activities.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Capital Shopping Centres Chief Operating Officer, Mike Butterworth, said: "CSC is delighted to have secured sole ownership of Xscape Braehead. This highlights our focus on offering our visitors the most compelling retail and leisure destinations and underlines our commitment to the Braehead area which has considerable scope for further regeneration to the benefit of the local community."
Xscape Braehead had gross assets of £56.7m at June 30th, 2012, including property valued at £53.5m with debt of £45.6m.
The company generated net rental income of £3.2m and profit before tax of £3.4m, including a £2.8 million gain on revaluation of property in the year ended December 31st, 2011.
RD
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Can you afford to retire in 2025?
From interest rates and inflation to tax changes, there are plenty of factors to consider if you plan to retire next year – here is how to prepare.
By Marc Shoffman Published
-
8 of the best properties for sale near ski slopes
The best properties for sale near ski slopes – from a luxury cabin in Geilo, one of Norway’s premier ski resorts, to a large chalet in Valais, Switzerland
By Natasha Langan Published