British Land is reportedly set to buy two adjoining shopping centres in Slough from Buckingham Estates for a total of £190m. The two centres are the 320,000 sq ft Queensmere centre and the 180,000 sq ft Observatory.
The centres are located on the edge of the Heart of Slough regeneration scheme, which will see 29 acres of land redeveloped to provide 720,000 sq ft of offices, 650,000 sq ft of new homes, 35,000 sq ft of retail and leisure, a four-star hotel with conference facilities and new public buildings. Development Securities and Berkeley Homes are the preferred developers.
British Land declined to comment. DTZ is advising Buckingham.
Source: Freeman News