Scottish Widows bought the centre three years ago as part of the Guardian portfolio. At the time a number of units were vacant but the mall is now fully let. Recent lettings to Coast, Jigsaw, Hobbs and Austin Reed have achieved rents of £160 ($275) zone A, up more than 20% over three years. Other tenants include Virgin, H&M, Karen Millen, Oasis and Jaeger.
Scottish Widows said it was taking a profit on the Capitol centre while concentrating its resources on the development of the Andrews Buildings site in the prime pitch of Queen Street, where lettings have been secured to HMV, Dixons and USC. Scottish Widows was represented by Jackson Criss and Lewis Ellis. Jones Lang LaSalle represented the purchaser.
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