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Land Securities Group PLC - London-based commercial property developer - Buys 92% stake in Liverpool One, a shopping centre in Liverpool, from a subsidiary of the Abu Dhabi Investment Authority, which owns 69%, and Grosvenor, which owns 23%, for a total sum of £490 million, with £35 million owed to ADIA deferred for two years. LandSec doesn’t say who owns the remaining 8%. ‘Opened in 2008, Liverpool One is one of the most modern major retail destinations in the UK, offering a strong mix of retail, food and beverage, and leisure brands that attract footfall of 22 million people per year,’ LandSec says. Chief Executive Officer Mark Allan says: ‘The top 1% of the UK’s shopping destinations provide brands with access to 30% of all in-store retail spend, which is why we continue to see brands focus on fewer, but bigger and better stores in the best locations. As such I am delighted that we have added another top-ten centre with a highly attractive return profile - meaning our unique portfolio now includes seven of the top 30 centres in the UK.’ Current stock price: 570.50 pence 12-month change: down 19% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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