CAPITAL & REGIONAL PLC - Capital & Regional signs 25 year cinema lease in Hemel Hempstead

Capital & Regional signs 25 year cinema lease in Hemel Hempstead

CAPITAL & REGIONAL PLC
(Incorporated in the United Kingdom)
(UK company number 01399411)
LSE share code: CAL JSE share code: CRP
LEI: 21380097W74N9OYF5Z25
ISIN: GB0001741544
("Capital & Regional" or "the Company")


CAPITAL & REGIONAL SIGNS 25 YEAR CINEMA LEASE IN HEMEL HEMPSTEAD


Capital & Regional, the UK focused REIT with a portfolio of dominant in-town community shopping centres,
announces that it has signed a 25 year lease without break with Empire Cinemas, the UK's leading independent
cinema chain, for a brand new, nine-screen cinema with a total of 924 seats at its centre in Hemel Hempstead.
The rent has been agreed at £15 per square foot, in line with the portfolio average, with index-linked annual
uplifts.

The Company has already secured the planning permission to add an extension above the existing centre for
the cinema, with construction work expected to start late in Q3 2019. The cinema is due to open in early 2021.

The opening of the cinema is a central element of Capital & Regional's repositioning strategy for Hemel
Hempstead town centre, where the Company expects to invest over £15 million in the next two years on the
cinema and further projects, consistent with its community centre strategy. Upgraded customer facilities have
already been delivered, including a new state-of-the-art family area and toilets, as well as a new roof, full 
height glazed shop fronts and an external refurbishment. A family zone, including a soft play area, will be opened 
in Q2 2019 and more dining options will be brought into the scheme.

Located just outside the M25, Hemel Hempstead is a thriving London commuter town that has a diverse,
growing population and an influx of young professionals and families. Over £350 million has been invested in
recent years by the local authority, with whom the Company has a strong relationship, and Dacorum Council
also plans to deliver 8,900 new homes for the town in the next 20 years. Altogether, Capital & Regional owns
350,000 square feet across three adjoining assets in the centre of Hemel Hempstead, providing a significant
opportunity for it to improve and curate the town centre for the local community, in line with its portfolio
strategy.

Lawrence Hutchings, Chief Executive at Capital & Regional, commented "The Empire Cinema and the
express and casual dining options we will create are an important step forward in our repositioning of Hemel,
consistent with our community centre strategy. It represents the next key stage following our investment in the
family precinct, which is under construction, and an upgrade to centre finishes and amenities.

"We are therefore excited to be able to bring Empire Cinema to Hemel. Empire is committed to creating a
world class experience, which reflects the customer feedback and needs identified in our research with local
focus groups, where a town centre cinema and evening destination was the most requested addition by residents
in the area."

27 February 2019


JSE sponsor
Java Capital

Notes to editors:

About Capital & Regional plc

Capital & Regional is a UK focused retail property REIT specialising in shopping centres that dominate their
catchment, serving the non-discretionary and value orientated needs of the local communities. It has a strong
track record of delivering value enhancing retail and leisure asset management opportunities across a
c. £1 billion portfolio of in-town shopping centres. Capital & Regional is listed on the main market of the
London Stock Exchange and has a secondary listing on the Johannesburg Stock Exchange.

Capital & Regional owns seven shopping centres in Blackburn, Hemel Hempstead, Ilford, Luton, Maidstone,
Walthamstow and Wood Green. Capital & Regional manages these assets through its in-house expert property
and asset management platform.

For further information see capreg.com/

Date: 27/02/2019 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.