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C&R offloads four shopping malls

By Daily Mail Reporter
Updated: 05:05 EDT, 17 August 2010

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Property asset manager Capital & Regional said its shopping centre fund had sold four sites for £135.9m.

The Mall Fund - in which Capital & Regional holds a 16.7% stake - offloaded the quartet of shopping centres in Gloucester, Southampton, Romford and Falkirk to Rockspring Property Investment Managers.

The group (down 0.25p to 30.25p) pointed out that the sale came in well ahead of a June valuation of the assets at £128.1m.

Rockspring will manage the schemes through a company called The Other Retail Group, led by former Mall Fund director John Wood.

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