UK recovery boosts Capital & Regional

Kasmira Jefford
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SHOPPING centre real estate investment trust Capital & Regional said the strength of the London property market and the recovery across the rest of the UK helped to fuel a better-than-expected rise in the value of its properties.

The firm, which owns shopping centres, including The Mall in Wood Green, said its net asset value (NAV) – a key industry measure – rose by 12 per cent to 67p per share in the six months to 30 June.

Its portfolio jumped from £895.7m to £958.2m boosted in part by the acquisition of the Buttermarket shopping centre in Ipswich.