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Xscape Braehead, Glasgow
Xscape Braehead is a 50:50 joint venture with Capital Shopping Centres next to the Braehead Shopping Centre on the outskirts of Glasgow. It offers indoor snow skiing, bowling, dining, cinema and a range of other leisure activities.

FIX UK
FIX UK is a portfolio of trade centres that was built up by Capital & Regional.  In March 2008 the Group sold 80% of its investment to a number of investors, including Paradigm Real Estate Managers, who took over day-to-day management responsibilities.

Great Northern Warehouse, Manchester
Great Northern Warehouse is a wholly-owned converted Victorian warehouse in the heart of Manchester including bars, restaurants, shops and a multiplex cinema.

Leisure World, Hemel Hempstead
Leisure World is a wholly owned leisure park which was acquired for its refurbishment/redevelopment potential.

SNO!zone
SNO!zone is the ski operator which rents the real snow slopes in the three Xscapes. It is wholly-owned by Capital & Regional, which built it up out of the bankruptcy of Leisurenet in 2001. It is the largest indoor ski operator in the UK, but is now seeing more competition from new operators and venues.

Capital & Regional Property Management (CRPM)
CRPM is the company which employs our specialist property management teams. It also holds the management contracts with the Mall and Junction funds, and the Group's share of X-Leisure Limited. It earns a regular stream of fee income, which covers the cost of the specialist teams and corporate overheads and we expect it to generate a profit.

X-Leisure Limited
X-Leisure Limited is a joint venture between Capital & Regional and Hermes in partnership with X-Leisure Limted's management.  Since it was established in August 2009 it has been responsible for managing the X-Leisure fund and the Group's investments in the Great Northern Warehouse, Hemel Hempstead and Braehead, and oversees SNO!zone.

Garigal Asset Manangement GmbH
The Group purchased a 30% stake in Garigal in August 2010, alongside AREA who bought a further 20%.  Garigal manages an existing German property portfolio on behalf of a third party and will take over responsibility for the asset and property management of the Group's German joint venture with AREA over a transitional period to June 2011.