Landsec has acquired a 92% stake in Liverpool ONE, the largest open-air shopping centre in the UK, from the Abu Dhabi Investment Authority and Grosvenor. The deal is valued at £490 million, with Landsec CEO Mark Allan highlighting the centre's attractive return profile and prime location.
Liverpool ONE has been sold to a London-based property company in a massive multi-million pound deal. Real estate investors at Landsec today announced their newly-acquired 92% stake in the city centre site. The majority stake was purchased from the Abu Dhabi Investment Authority, which held 69% of Liverpool ONE, and Grosvenor, which held 23%, for an overall consideration of £490m. Of this total consideration, a payment of £35m to ADIA is deferred for two years.
” The acquisition of Liverpool ONE is in-line with Landsec’s objective to grow its investment in major retail destinations, recycling the proceeds from its £464m of non-core sales earlier in the year. This means the company now owns seven of the top 30 shopping centres in the UK, including Bluewater, Westgate and St David's. Opened in 2008, Liverpool ONE is the largest open-air shopping centre in the country, attracting 22m people each year.
Real Estate Acquisition Retail Landsec Liverpool ONE
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