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THE 2010'S


  • A new 7 year £525 million loan facility is agreed in January to refinance Lakeside shopping centre.
  • The Demerger of Liberty International PLC into two businesses, Capital Shopping Centres Group PLC and Capital & Counties Properties PLC, becomes unconditional on 7 May. On the same day Liberty International PLC changes its name to Capital Shopping Centres Group PLC.
  • A proposal to transfer the company’s interest in Capital & Counties USA., Inc. to a joint venture EQY-CSC LLC with Equity One, Inc. is announced in May.
  • A proposal to acquire The Trafford Centre from The Peel Group is announced in November.
  • A placing of 62.3 million New Ordinary Shares at 355p in November raises gross proceeds of £221.2 million reducing the loan to value ratio from 53% to approximately 47%
  • Simon Property Group announce in December their intention to possibly make a cash offer to acquire the company and halt the acquisition of The Trafford Centre.
  • The Takeover Panel announce in December that Simon Property Group must make a firm offer by 12 January 2011 or withdraw.
  • A surplus of 11% on investment property revaluation was recorded for 2010. Dividend per share declared at 15p, the same level as CSC’s share of the 2009 Liberty International PLC dividend.


  • Equity One, Inc. acquires Capital & Counties USA., Inc. (a group subsidiary) through a joint venture EQY-CSC LLC with the company. 4.1 million shares in Equity One, Inc and 11.4 million shares in the joint venture are received in January.
  • Simon Property Group announces in January that they have no intention of making a firm offer.
  • The transformational acquisition of the Trafford Centre completes on 28 January.167,316,817 new ordinary shares and £154,317,000 3.75 per cent. perpetual subordinated convertible bonds were issued andJohn Whittaker, Chairman of The Peel Group, is appointed Non-Executive Director and Deputy Chairman in connection with the acquisition.
  • The Office of Fair Trading opens an enquiry into The Trafford Centre acquisition in March, but decides in July not to refer it to the Competition Commission.
  • Kay Chaldecott steps down as a director in September after 27 years with the Group. Lady Patten is appointed as an additional Non-Executive Director and Mike Butterworth is appointed as Chief Operating Officer.
  • CSC completes the acquisition of the Broadmarsh shopping centre in Nottingham on 1 December for a total cash consideration of £73 million.
  • A creditable 3.6% increase in like-for-like net rental income and a 7% increase in underlying earnings per share to 16.5p were recorded for 2011. Dividend per share declared at 15p.


  • At a General Meeting in January, shareholders approve two transactions with the Peel Group: the acquisition for £4.7 million of a site known as King George V Docks (West) adjacent to CSC’s shopping centre at Braehead; and the acquisition for €2.5 million of a three year option to purchase land in Malaga, Spain with planning consents for the construction of a high-class regional shopping centre and leisure development.
  • On 6 March, CSC sells 4.1 million shares, around a quarter of its interest, in Equity One, Inc. realising approximately £49 million.