14th Dec 2015 10:51
LONDON (Alliance News) - Property developer Hammerson PLC is understood to be closing in on a GBP340.0 million deal to acquire the shopping centre located above the revamped New Street station in Birmingham, The Sunday Times reported.
Hammerson, which also owns the Silverburn shopping centre in Glasgow and The Oracle in Reading, is set to seal the purchase of the Grand Central centre by Christmas, the paper said. It is understood to have fought off rivals British Land Co PLC and Grosvenor to acquire the site.
The new shopping centre, anchored by John Lewis, was opened in September and was part of the GBP750.0 million project to renovate New Street station, once a notorious eyesore for the Midlands city.
http://www.thesundaytimes.co.uk/sto/business/Retail_and_leisure/article1644390.ece
By Sam Unsted; [email protected]; @SamUAtAlliance
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