Is Retail Property Heading Down The Rabbit Hole?
How the disappearance of well-known retailers from the UK’s high streets is affecting the commercial real estate market - author of the Cass Commercial Real Estate...
Read Full ArticleLand Securities sells The Centre and Almondvale West Retail Park, Livingston in 'reshaping' decision
Land Securities has sold the facility to HSBC Alternative Investments as part of its Club Deal programme, together with Hines acting as asset manager, for £224.1 million.
The retail park is Scotland’s second largest covered shopping centre and totals more than 1 million sq ft and is home to over 160 retailers, including Primark, Debenhams, BHS and M&S, and has more than 2,500 parking spaces. Almondvale West Retail Park comprises six units totalling 116,000ft2 let to retailers, including TK Maxx and Matalan.
“The sale follows a number of recent transactions demonstrating our clear commitment to reshaping our shopping centre portfolio to focus on dominant regional and Greater London assets,” explained Scott Parsons, MD, Retail at Land Securities.
Land Securities owns and manages more than 25 million sq ft of property, from shopping centres to offices, valued in excess of £13.2 billion.
Pictured: HSBC Alternative Investments has snapped up the Centre and Almondvale West Retail Park, Livingston for £224.1 million
Article written by Mike Gannon | Published 19 December 2014
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