Capital & Regional has converts to a Real Estate Investment Trust.
This was made effective from 31 December 2014 following a general meeting on the 2nd December.
Being a REIT allows Capital & Regional to benefit from a zero corporation tax rate on qualifying property income and capital gains.
Hugh Scott-Barrett, Chief Executive commented:
“We have long stated our ambition to become a REIT which is focussed on dominant community shopping centres in the UK before the end of 2014 and we are pleased to be entering the New Year having achieved that goal. Capital & Regional is significantly transformed from the company it was a year ago and this is the culmination of many months of hard work by the management team.”