In a move that was recently trailed Capital & Regional, the specialist REIT with a £1 billion portfolio of in-town UK shopping centres, has today started trading on the Johannesburg Stock Exchange (JSE).
Capital & Regional’s assets comprise six wholly owned centres, collectively known as the Mall portfolio, and 20 per cent and 50 per cent joint venture interests in two further centres in Redditch and Ipswich.
The Group seeks to generate income and value growth from asset management initiatives which include an ongoing £65 million capital expenditure programme across the Mall portfolio, which is expected to deliver income returns of at least 10 per cent.
Chief Executive Hugh Scott-Barrett believes the secondary JSE listing is a milestone for the company and offers South African investors exposure to the attractive high footfall community shopping centre sector.
“This is an important moment for Capital & Regional,” he said. “We have been listed on the London Stock Exchange for nearly 30 years and in that time we have seen significant interest from South African institutions and private investors attracted to our investment case.
“This listing provides them with greater opportunity to participate in our future income and capital growth while enhancing the liquidity of the Company’s shares and future funding options.”
