The Leading News & Information Service For The Facilities, Workplace & Built Environment Community

Half a Circus, Quakers and Shops

13 August 2014 | Updated 01 January 1970

Bristol AXA Real Estate has exchanged contracts with Land Securities to acquire a 50% stake in Bristol's Cabot Circus shopping centre, Quakers Friars and surrounding shops (on behalf of its clients), for £267.8million.

The assets currently produce a net rental income of £17.3million to Land Securities.

Cabot Circus was developed by Land Securities in a joint venture with Hammerson PLC and opened in 2008. Cabot Circus comprises a 830,000sq.ft covered shopping centre, Quakers Friars a 170,000sq.ft luxury goods and dining quarter, and 370,000sq.ft of adjoining high street shops. The development was hailed as one of the largest retail-led city centre urban regeneration projects in the UK and won accolades for its integration into the city centre and delivery of much needed amenities, public spaces and improved transport to the city.

Scott Parsons, Managing Director, Retail at Land Securities, said, “The sale of Cabot Circus, Quakers Friars and surrounding high street shops, coming so soon after the disposal of The Bridges in Sunderland and the acquisition of Bluewater in Kent, demonstrates the pace at which Land Securities is reshaping its retail portfolio. This reshaping is set to continue to reflect evolving consumer behaviour.”

The sale is conditional on EU merger control approval.

Article written by Brian Shillibeer | Published 13 August 2014


Related Articles

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 Article
Oxford St Primark Gets Gommaged

If the London shoppers heading to Oxford Street’s Primark had looked up from their mobile phones for just a minute, they might have noticed the tired West End...

 Read Full Article
McAlpine for Durham Retail Job

A fund advised by Clearbell Capital has reported that Sir Robert McAlpine has been appointed as the main contractor to redevelop The Riverwalk (formerly The Gates...

 Read Full Article
Protests - London and Moscow UPDATES

The Million Mask March has previously seen considerable damage to properties in an around London's Trafalgar Square. This time around, on Saturday November 5, there...

 Read Full Article
Million Mask and Limb Protests Hit London

Ahead of the proposed ‘Million Mask March’ on Saturday, 5 November, conditions have been imposed on the event under the Public Order Act. The police say to...

 Read Full Article
Stop Me and Buy One

British Land has launched Eats from the Street 2016 which sees the company’s restored red bus, complete with a ‘green’ engine, visit 10 retail assets as...

 Read Full Article
Looking After an Angel

Opened in 2002 as the N1 Centre, Angel Central is a big fixture in Islington and will now have management of the property services handled by the international property...

 Read Full Article
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...

 Read Full Article
Cool as Cucumbers - Savills and Deloitte See No Problems with Gherkin Sale

Savills and Deloitte Real Estate have been jointly instructed to sell The Gherkin at 30 St Mary Axe in the City of London following the appointment of Phil Bowers,...

 Read Full Article
British Land and Regus Launch Express Format in Retail Centres

In the first deal of its kind with a retail landlord, Regus Express sites are opening at Meadowhall in Sheffield, Broughton Shopping Park in Chester and Fort Kinnaird...

 Read Full Article