Capital Shopping Centres Group Plc (CSCG), the U.K.’s biggest shopping-mall owner, said 3 percent more people have visited its retail properties this year.
Occupancy at Capital Shopping’s 14 malls is 96.8 percent, down from the 97.7 percent reported at the end of December, the London-based company said in a statement today. The integration of the Trafford Centre near Manchester, England, has been completed and the mall has “performed strongly,” Capital Shopping said.
Capital Shopping’s shareholders approved the purchase of the Trafford Centre in January for 748 million pounds ($1.2 billion), the highest price ever paid for a British property.
“We continue to expect 2011 to be a difficult year for consumers, but CSC’s overall performance for the year to date has been in line with expectations, with progress on lettings to improve the overall tenant mix and in its active management and investment plans,” Chief Executive Officer David Fischel said in the statement.
Capital Shopping signed 36 new leases during the period, adding 2 million pounds to the company’s annual rent. (source : bloomberg.com)