Sell-off returns Capital & Regional to profit
HIGHER property values and asset sales helped property group Capital & Regional to move into the black.
C&R, which invests in leisure centres and shopping centres, unveiled first-half profits of £18million against a loss of £131million a year ago.
While valuations rose by 5.3 per cent, the group sold 10 properties for £378million, with its share of the proceeds comprising £80million.
The company expects the pace of disposals to slow down after it sells its Great Northern leisure and office complex in Manchester.
