Land Securities announces the sale of The Centre and Almondvale West Retail Park, Livingston to HSBC Alternative Investments Limited as part of its Club Deal program, together with Hines acting as asset manager, for £224.1 mln (approx. €284.25 mln).
The Centre is Scotland’s second-largest covered shopping center and totals more than 1 million ft² (approx. 92,903 m²) . It is home to over 160 retailers, including Primark, Debenhams, BHS and M&S, and has more than 2,500 parking spaces.
Almondvale West Retail Park comprises six units totaling 116,000 ft² (approx. 10,777 m²) let to retailers including TK Maxx and Matalan.
Scott Parsons, Managing Director, Retail at Land Securities, said, “The sale of The Centre and Almondvale West Retail Park follows a number of recent transactions demonstrating our clear commitment to reshaping our shopping center portfolio to focus on dominant regional and Greater London assets.”