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Wednesday, 3 June

Going, Going, Gone in Scotland

Land 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

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