Capital & Regional plc said The Mall has bought St George´s Shopping Centre in Preston from Legal & General for £102.5m.
The Mall is the brand name of The Mall Fund, established by Morley Fund Management and Capital & Regional to own and operate community shopping centres throughout the UK.
This latest acquisition brings The Mall´s current portfolio to 1.425 bln stg invested in 17 centres.
St George´s Shopping Centre is Preston´s principal covered shopping destination, Capital & Regional said, adding that the centre opened in 1964 and underwent a major 23 mln stg refurbishment in 2000, which increased its area by 45 pct to the current 25,083 square metres.
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Source: Freeman
