Last checked at 23 Oct 2014 15:40
Land Securities Group PLC ("Land Securities")
Land Securities acquires 1.6% stake in Lend Lease Retail Partnership for £12.8 million
Following the announcement on 25 June 2014 of Land Securities' acquisition of a 30% stake in the Bluewater shopping centre in Kent, Land Securities announces it has conditionally acquired a 1.6% stake in Lend Lease Retail Partnership (LLRP) for £12.8m. LLRP's major investment is a 25% stake in the Bluewater shopping centre.
As a result of this acquisition, Land Securities economic interest in the Bluewater shopping centre, Kent, will increase by 0.4%.
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Notes to editors:
Land Securities is the UK's largest listed commercial property company and a member of the FTSE 100. The company owns and manages more than 24 million sq ft of property, from shopping centres to offices, valued in excess of £11.8 billion.
In addition to its 25% stake in the Bluewater shopping centre, LLRP also owns 100% of Touchwood shopping centre, Solihull.
For further information, please contact:
Land Securities Group PLC
Press Investors
Duncan Bonfield / Molly Neal Ed Thacker
T: +44 (0)20 7024 5463 / 5460 T: +44 (0)20 7024 5185Duncan.Bonfield@landsecurities.com Edward.Thacker@landsecurities.com
Molly.Neal@landsecurities.com