Capital & Counties Properties

Capital & Counties Properties plc (Capco) is a United Kingdom-based property investment and development company focused on sites in the West End of London. It is listed on the London and Johannesburg stock exchanges and is a constituent of the FTSE 250 Index.[2]

Capital & Counties Properties plc
TypePublic limited company (LSE: CAPC, JSE: CCO)
IndustryProperty
PredecessorLiberty International
Founded2010
HeadquartersLondon, United Kingdom
Area served
London
Key people
Ian Durant (Chairman)
Ian Hawksworth (CEO)
ProductsCommercial property investment and development
Revenue£79.4 million (2019)[1]
£(44.8) million (2019)[1]
£(62.3) million (2019)[1]
Websitecapitalandcounties.com

History

In May 2010, Capital & Counties Properties was demerged from Liberty International (now renamed Intu Properties).[3] The company once had an interest in Great Capital Partnership (a 50-50 joint venture with Great Portland Estates which invested in commercial property in the Regent Street and Piccadilly areas),[4] but that entity sold its remaining asset in June 2013.[5] The company had a large interest in the Earl's Court area which then later sold its interest there (co-owned with Transport for London) to Delancey and a Dutch pension fund in November 2019.[6] It acquired REIT status in December 2019.[7]

In June 2020, Capital & Counties Properties agreed to purchase property tycoon Samuel Tak Lee’s stake in its rival Shaftesbury.[8][9] The company will acquire a 26.3% stake of Shaftesbury for a reported £436 million.[10][11]

Operations

Capital & Counties Propertie has a large portfolio focused on properties in Covent Garden.[12] The market value of the company's property portfolio as of 31 December 2019 was £2.5 billion.[1]

References
  1. "Annual Results 2019" (PDF). Capital & Counties Properties. Retrieved 1 March 2020.
  2. "FTSE 250 Constituents". London Stock Exchange. Retrieved 1 March 2020.
  3. Thomas, Daniel (9 March 2010). "Liberty demerger heralds new era". Financial Times. Retrieved 9 May 2010.
  4. "Capital and Counties shows growing momentum". Investors Chronicle. 2 March 2011. Retrieved 23 April 2011.
  5. "Great Capital Partnership sells Park Crescent West for £105 million". Europe Real Estate. 26 June 2013. Retrieved 1 March 2020.
  6. "Capital & Counties To Sell Earls Court Interests For GBP425 Million". Morning Star. 15 November 2019. Retrieved 1 March 2020.
  7. "Capital & Counties Properties converts to REIT status". Shares. 9 December 2019. Retrieved 1 March 2020.
  8. Bloomberg, Chris Hughes |. "Analysis | Covent Garden's Owner Makes a Smart Move on Soho". Washington Post. Retrieved 18 June 2020.
  9. "Capco invests £436 million to purchase Hong Kong tycoon's 20.9% stake in Shaftesbury". Invezz. 1 June 2020. Retrieved 18 June 2020.
  10. "Capco agrees deal for significant stake in rival landlord Shaftesbury". Evening Standard. 1 June 2020. Retrieved 18 June 2020.
  11. "Property firm Capco buys HK tycoon's stake in London rival Shaftesbury". The Business Times. 2 June 2020. Retrieved 18 June 2020.
  12. "Capital & Counties to demerge Covent Garden as standalone REIT". Sharecast. 25 July 2019. Retrieved 1 March 2020.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.