Shops project

PROPERTY GROUP Capital Shopping Centres has bought a 9.5-acre site in Uxbridge to be developed with a 420,000-square foot shopping centre. The pounds 150m development will include a department store, 75 shops and a seven-screen cinema.

The company reported a 17 per cent rise in first-half pre-tax profits to pounds 42.6m. The property portfolio is now worth pounds 2.1bn, up 7 per cent from the end of 1997.