23rd Oct 2014 14:46
LONDON (Alliance News) - Commercial property company Land Securities Group PLC Thursday said it has bought a 1.6% stake in Lend Lease Retail Partnerships for GBP12.8 million, further increasing its interest in the Bluewater shopping centre in Kent.
Lend Lease Retail Partnership's major investment is a 25% stake in Bluewater, meaning that Land Securities' economic interest in the shopping centre will rise by 0.4%.
Land Securities bought a direct 30% stake in Bluewater in June.
Lend Lease Retail Partnership also owns all of the Touchwood shopping centre in Solihull.
Land Securities shares were up 0.5% at 1,091.76 pence Thursday afternoon.
By Steve McGrath; [email protected]; @stevemcgrath1
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