Capital Shopping Centres (CSC) has revealed that its sites continued to perform solidly in the third quarter of the year, despite difficult conditions in the wider UK retail sector.
The group – which owns malls including the Trafford Centre, Lakeside and the MetroCentre – confirmed in a statement that occupancy across its portfolio remained unchanged from the previous quarter at 97 per cent. Footfall, meanwhile, was two per cent higher over the year so far.
“As evidenced by a 97 per cent occupancy level, CSC has delivered a robust operational performance in the period in the face of a challenging economic and retail background,” said chief executive David Fischel. “CSC remains well positioned through its focus on leading and high-quality shopping centres in the UK.”
CSC also signed 56 long-term leases in Q3 - with big-name retailers earmarked for units at the Trafford Centre and Braehead in Renfrewshire - and revealed its intention to press ahead with an internal management restructuring.
Earlier this month, CSC unveiled plans for a £180m revamp at Lakeside in West Thurrock, including the development of between 30 and 40 outlets and a new transport hub.
