All data is delayed
See More

CSC acquires remainder of Xscape Braehead

Dec 26 2012 23:56
I-Net Bridge

Company Data

Intu Properties plc [JSE:ITU]

Last traded 68
Change -1
% Change -1
Cumulative volume 616486
Market cap 0

Last Updated: 09-10-2015 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

CSC rents fall as shops go bust

CSC plans to spend on expansions

Capital shareholders approve deal

Earnings increase for Capital

CSC cuts Trafford offer to thwart Simon bid

Simon gives up on Capital takeover

Johannesburg – Capital Shopping Centres [JSE:CSO] has agreed terms to acquire Capital & Regional’s 50% interest in Xscape Braehead in Glasgow for £4.0m‚ the company said on Thursday.

CSC will now own 100% of the Xscape Braehead Partnership which owns the 370‚000 sq ft family entertainment destination adjacent to its Braehead shopping centre.

“Xscape Braehead combines real snow slopes with urban and lifestyle retailers‚ cool bars and restaurants‚ a 12 screen cinema‚ family attractions and extreme activities‚” CSC said.

The Xscape Braehead Partnership had gross assets of £56.7m at 30 June 2012 including property valued at £53.5m‚ with debt of £45.6m secured on the property.

Th e Xscape Braehead Partnership generated net rental income of £3.2m and profit before tax of £3.4m‚ including a £2.8m gain on revaluation of property in the year ended 31 December 2011.

Commenting on the acquisition Mike Butterworth‚ CSCs Chief Operating Officer‚ 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 regenerationto the benefit of the local community." 

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

capital shopping centres


Read Fin24’s Comments Policy publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


With infrastructure spending having been identified as one of the key focus areas of the National Development Plan, tradesmen will continue to play a critical role in growing the South African economy through their skills.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

A 30% a month return on investment is:

Previous results · Suggest a vote