The Mall Blackburn

The Mall enjoys healthy Q2

Capital & Regional said the value of The Mall Fund, which includes the Mall Blackburn among its 11 shopping centres, edged up 0.4% to £1.095m, reflecting a net initial yield of 6.98%, in the second quarter.

In a quarterly valuation statement to the stockmarket CapReg, which has a 16.7% stake in the funds, said letting activity had been strong during the three months to the end of June.

Hugh Scott-Barrett, chief executive of CapReg, said: "We have continued to see strong letting activity during the quarter at or above Estimated Rental Value across the portfolio. This has underpinned growth in valued income and has helped us deliver impressive performance in very challenging market conditions for our retailers."

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