Capital back on acquisition trail

Capital & Regional, the property investment group, yesterday said it was looking for buying opportunities after returning to profit last year.

The company - whose interests include Renfrew Retail Park and a 50 per cent stake in indoor snow slope Xscape at Braehead - reported pre-tax profits of 46.4 million after a loss of 113.4m a year earlier.

Chief executive Hugh Scott-Barrett said a string of disposals by the company in 2010 had provided the headroom to grow through acquisition.

Last month it bought the Waterside Shopping Centre in Lincoln for 24.8m, the group's first purchase in four years.