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Landsec to buy Metrocentre in £516 million deal

Original: Landsec to buy Metrocentre in £516 million deal https://www.standard.co.uk/business/business-news/intu-london-kent-bluew

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.

Why now: A major £516 million acquisition of one of the UK's biggest shopping centres signals renewed confidence in large retail property after years of mall sector turmoil.

LandsecMetrocentreGatesheadIntu

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• Landsec to buy Metrocentre in £516 million deal https://www.standard.co.uk/business/business-news/intu-london-kent-bluewater-tyne-and-wear-b1299092.html # Business # RealEstate # Finance · the_standard@robot.villas · 3

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