Landsec

Property firm Landsec has agreed to buy the Metrocentre shopping centre in Gateshead, Tyne and Wear, in a £516 million deal. The Metrocentre, formerly owned by collapsed mall group Intu, is one of the UK's largest shopping centres. The purchase marks Landsec's continued push into major retail destinations alongside its London portfolio.

British property company Landsec has announced a conditional retail offer, giving individual retail investors the chance to subscribe for shares subject to conditions being met. Details of the offer's size, pricing and conditions were not included in the initial announcement. The move is drawing attention among investors watching the UK commercial property sector.