Capital & Regional buys Lincoln shopping centre

9th Feb 2011 14:16

Retail-focused property asset manager Capital & Regional has agreed to by a shopping centre in Lincoln - its first property acquisition since a capital raising in 2009.It is paying just under £25m for the city's Waterside Shopping Centre, which counts fashion chains such as New Look and Top Shop among its tenants. The purchase of the centre from clients of the property management group PRUPIM, is expected to be completed later this month."This is an exciting acquisition for Capital & Regional as we move to deliver on our growth strategy for the company." said Hugh Scott-Barrett, Chief Executive of Capital & Regional. "Waterside is a classic C&R centre where we can apply our revenue focussed retail management skills to create the right space and trading environment for retailers and deliver good returns for our shareholders."