LONDON (dpa-AFX) - Capital & Counties Properties Plc (CAPC.L) issued a trading update for the six months ended 30 June 2020. During the period, 22 leasing transactions completed with a rental value of 2.7 million pounds compared to 13.0 million pounds, previous year. EPRA vacancy has increased by 0.9 percentage points to 4.1 percent. Overall, 71 percent of rent has been collected in the first six months of the year compared to 99 percent, last year. Group net debt was at 721 million pounds as at 30 June 2020.
As at 30 June 2020, Covent Garden total property value was 2.2 billion pounds, a decrease of 17 percent since 31 December 2019.
Also, the group reported that the acquisition of 20.94 percent stake in Shaftesbury PLC completed with a further 5.31 percent agreed subject to shareholder approval. Capco expects to publish a shareholder circular on July 21 in respect of the acquisition of the second tranche, which when aggregated with the first tranche, constitutes a class 1 transaction for the purposes of the Listing Rules.
Capco's interim results for the six months ended 30 June 2020 will be released on 12 August 2020.
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