CSC reviews first quarter
Published: 19 May, 2011
Capital Shopping Centres has released its interim management statement for the period 1 January to 17 May 2011.
Occupancy levels across the 14 centre portfolio stands at 97 per cent with a footfall increase of 3 per cent. Thirty-six new long-term leases have added £2m to annual rent.
This period included the £1.6bn acquisition of the Trafford Centre, the highly-reported deal completed on 28 January.
David Fischel, chief executive of Capital Shopping Centres Group, said: “Since acquisition, The Trafford Centre has performed strongly and we are pleased to have now integrated this prime asset into CSC’s business. Footfall at CSC’s centres has remained strong with a 3 per cent increase for the year to date which follows similar increases in each of the last two years as customers continue to choose to visit larger shopping centres with a wide range of attractions.
“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.”
Looking forward, CSC is focusing on integrating the Trafford Centre into the portfolio, progressing with £128m worth of active management projects and consulting the public on a proposed extension at the Victoria Centre, Nottingham.
