Commercial Finance Specialists

Liberty International, is planning to split its portfolio into two separate companies.

Liberty International, the UK's third-largest property group, has confirmed that it plans to enact a demerger and split its portfolio into two separate companies.

The group will split into Capital & Counties Properties, a London-focused company specialising in total return opportunities in the capital's real estate market and Capital Shopping Centres, a regional commercial property-focused UK REIT.

Patrick Burgess, chairman of Liberty International, said that the move has been prompted by a changing approach to property investment, requiring more active management.

"Capital Shopping Centres and Capital & Counties will be positioned to execute their own significant strategic plans, fully engaging with investors who will be able to select their individual weightings to each of the businesses over time," he added.

In January, a consortium of seven banks provided development funding for a £525 million loan facility to refinance Thurrock's Lakeside Shopping Centre, which is owned and managed by Capital Shopping Centres.