Landsec, a London-based property development and investment company, has acquired a 92% stake in Liverpool ONE shopping centre for £490m. The deal includes a 69% stake from the Abu Dhabi Investment Authority (ADIA) and a 23% stake from Grosvenor. Landsec will now own and manage the shopping centre, which has been credited with transforming Liverpool city centre.
Liverpool ONE has new owners as a London-based property development and investment company has acquired a 92% stake in the shopping centre. Landsec announced on Tuesday it has purchased a 69% majority stake from the Abu Dhabi Investment Authority as well as a 23% stake from Grosvenor, the Duke of Westminster's property company which developed the site and has managed it since. The overall deal came in at £490m, but a payment of £35m to ADIA will be deferred for two years.
With a portfolio worth £10bn, Landsec owns and manages more than 24,000,000 sq ft of property, including office blocks, out of town retail parks and city centre shopping districts. Among its assets are the iconic Piccadilly Lights at London's Piccadilly Circus, Kent's Bluewater shopping centre, Trinity shopping centre in Leeds, and One New Change - the shopping centre next to St Paul's Cathedral in the city of London.
REAL ESTATE ACQUISITION LANDSEC LIVERPOOL ONE SHOPPING CENTRE
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