• SA cities need foreigners

    We need to protect our cities' cosmopolitan nature, says Mzwandile Jacks.

  • Am I a racist?

    Does hating government's arrogance, nepotism and greed make me a bigot, asks Anton Ressel.

  • Recipe for disaster

    Malema's flames of frustration are fuelling white extremism, says Leopold Scholtz.

Loading...
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 63
Change 0
% Change 1
Cumulative volume 796832
Market cap 0

Last Updated: 17-04-2015 at 05:05. 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

24.com 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
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

Must see! The most luxurious dog house!

This dog house comes with a treadmill and hot tub, you have to see it!

 
 

Luxury living

WIN!
Ridiculous demands people with too much money make
8 of the priciest places to dock your yacht
Habits of the world’s richest people

Money Clinic

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

Voting Booth

Government’s call for the private sector to add power to the grid is:

Previous results · Suggest a vote

Loading...