CAPITAL & REGIONAL unveiled plans yesterday to invest up to £150 million over the next three years in reshaping its leisure division.

The property company has launched two leisure-centre brands, Xscape and X-Space, which are intended as “destinations with the feel of a theme park”. The project is being spearheaded by P-Y. Gerbeau, formerly chief executive of the Millennium Dome and manager of Euro Disney in Paris. M Gerbeau was appointed to the board of Capital & Regional this week. Each of the lesiure concepts will require a total investment of about £50 million.

In addition to the flagship Xscape leisure complex in Milton Keynes, Capital & Regional plans to open a similar centre in Leeds in September. It is investing between £55 million and £60 million on an Xscape centre to be opened in Glasgow next year. This will include an assault course, a 16m ice-climbing wall, an indoor rink and outdoor skate park.

M Gerbeau, also chief executive of X-Leisure, Capital & Regional’s leisure property arm, said: “With the addition of new and innovative attractions, as well as entertainment and events, we will deliver a complete integrated experience to our customers.”

Earlier this year X-Leisure bought 16 leisure properties, including Star City in Birmingham and the O2 Centre in North London. It is now claiming a 30 per cent holding in the UK leisure property market, with £610 million worth of assets under management.