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
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
