| Type | Public limited company |
|---|---|
| Traded as | LSE: CSCG, JSE: CSO |
| Industry | Property |
| Founded | 1980 (as Liberty International) |
| Headquarters | London, United Kingdom |
| Area served | United Kingdom, California |
| Key people | David Fischel (CEO), Patrick Burgess (Chairman) |
| Products | Investment and development of shopping centres and other commercial property |
| Revenue | £420.3 million (2010)[1] |
| Operating income | £733.6 million (2010)[1] |
| Profit | £528.6 million (2010)[1] |
| Subsidiaries | Equity One |
| Website | capital-shopping-centres.co.uk |
Capital Shopping Centres Group plc is a United Kingdom-based Real Estate Investment Trust (REIT), largely focused on shopping centre management and development. Formerly named Liberty International plc, it changed its name to that of its major subsidiary in May 2010 after demerging its Capital & Counties business unit as a stand-alone company. In addition to 13 shopping centres in the U.K., Capital Shopping Centres Group also owns the California-based subsidiary Equity One. The firm's shares are listed on the London and Johannesburg stock exchanges and it is a constituent of the FTSE 100 Index.
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The Company was established by Sir Donald Gordon in 1980 under the name of Transatlantic Insurance Holdings plc as an offshoot Liberty Life Association of Africa, a business he had founded in 1957.[2] The Company developed into a leading investor in life assurance businesses in the 1980s only divested its remaining life assurance interests (a 29% holding in Sun Life) in 1991.[3] In 1992 it merged with Capital & Counties, a leading shopping centre developer, so securing itself a listing on the London Stock Exchange.[3] It changed its name to Liberty International in 1996[3] and, after demerging Capital & Counties Properties in 2010, renamed itself Capital Shopping Centres Group.
At 31 December 2010 the company's investment properties were valued at £5.1 billion.[1] Capital owns several shopping centres in the UK, including:
Its United States-based subsidiary Equity One owns a portfolio of shopping centres and office property in California.
In November 2011, it was announced that CSC would be purchasing The Westfield Group's 75% stake in Westfield Broadmarsh, in Nottingham. This is only around the corner from the Victoria Centre, which CSC also own, putting the future of both centres in limbo.