Shopping centre in major property sale
In one of Scotland’s biggest property deals of the year Land Securities has sold Livingston’s The Centre and Almondvale West retail park for £224.1m to HSBC Alternative Investments.
The Centre is Scotland’s second-largest covered shopping centre with more than 1 million sq ft of space. It is home to more than 160 retailers, including Primark, Debenhams, BHS and M&S, and has more than 2,500 parking spaces.
Almondvale West Retail Park comprises six units totalling 116,000 sq ft let to retailers including TK Maxx and Matalan.
Scott Parsons, managing director, Retail of 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 centre portfolio to focus on dominant regional and Greater London assets.”