Westfield welcomes Hermes as a long term, institutional investor in UK shopping centers

Westfield Holdings today welcomed the decision of Hermes Property Asset Management Limited to purchase MEPCÂ's 50% equity interest in six of WestfieldÂ's UK shopping centres for £115 million (A$340 million).

The six centres, valued at approximately £700 million (A$2.1 billion) are: The Eagle Centre, Derby; Brunel Centre, Swindon; Friary Shopping Centre, Guildford; Castlecourt, Belfast; Royal Victoria Place, Tunbridge Wells and Mill Gate, Bury.

Hermes, one of the UKÂ's leading fund managers - with £40 billion (A$120 billion) in funds under management - made the acquisition on behalf of the British Telecommunications Pension Scheme, which will now jointly own the properties with Westfield Holdings.

(source: Westfield)

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