Capital Shopping Centres, the UK’s main shopping centre group, has seen its half-year profits rise 53% to 76 million euro, despite the British customers’ decreased spendings. The reason is that in these difficult circumstances, major chains battle to reach the top spots, sending rents through the roof.
These top spots are exactly CSC’s specialisation: since taking over Trafford Centre in Manchester, the group now owns 10 of the 25 British shopping centres with the highest turnover. The group saw only 3% of its spaces vacant and had its income from rent rise with 6.1%. Including the 1.83 billion euro takeover of Trafford Centre, that raise was up to 32% – totalling 203.7 million euro.
Since January, 80 new companies joined forces with CSC, including international fashion brands like Mango, Forever 21 and Superdry, but also the likes of Krispy Kreme doughnut stores.
