Find in the news:
BY COUNTRY

£656m buys a 30% share in Bluewater, Kent for Land Securities



Land Securities has acquired a 30% share in the Bluewater Center based in Kent, from Lend Lease, for a sum of £656m.

It has also gained full management rights, along with 110 acres of land for £40m.  After the rent free periods have ended, the overall net initial yield is expected to be 4.1%. The asset is owned by Lend Lease which holds 25%, M&G Real Estate and GIC with 35%, and Hermes and Aberdeen Asset Management hold a 10% stake.

This is one of the prime shopping centers outside of central London.  It hosts 27m annual visitors, in an extremely wealthy catchment area.  The center offers 1.8m sq ft and houses more than 330 cafes, restaurants, bars, and retailers, including House of Fraser, American Eagle, Tommy Hilfiger, H&M, Zara, Jack Wills, Victoria’s Secret, John Lewis and Marks and Spencer.  It offers shoppers 13000 parking spaces.

£656m buys a 30% share in Bluewater, Kent for Land Securities.jpg

The acquisition of this center increases Land Securities’ exposure in the South East.  Purchasing this share forms part of their plans to dominate the retail center experience. The company is planning to improve Bluewater returns by a reduction in the void rate to an average of 2.6% from 5.3%.  It will combine units to offer larger, but fewer units to retailers.  It is also targeting an improvement in its catering and leisure offerings.  

The company is confident that their approach to managing this asset will allow for growth in rentals as confidence in the market resumes again.



More about shopping malls in the United Kingdom



Jun 19, 2019, Italy:
The Mall Sanremo is a brand village featuring luxury labels, from ready-to-wear to accessories, and watches.
Jun 18, 2019, USA:
The retailer equipped new stores with technology improvements, new fixtures, and a brighter look and feel.
Jun 14, 2019, USA:
Skyports designed for vehicles of the Uber Air project, the world's first urban aviation network.
Jun 14, 2019, United Kingdom:
Nike has redesigned the women's part of its flagship shop in London, showing plus-size mannequins.
Jun 13, 2019, Slovenia:
Irish fashion retailer Primark revealed its first store in Slovenia at Citypark in Ljubljana, attracting thousands of enthusiastic customers.
Jun 11, 2019, USA:
Krispy Kreme is preparing to present its flagship retail concept in Times Square in New York.
ICSC ECE

Friend
and Follow
Westfield World Trade Center GLA:365 000 SF
ADDRESS: World Trade Center, Manhattan, NY 10007
Dania Pointe GLA:975 000 SF
ADDRESS: 292-344 North Bryan Road, Dania Beach, FL 33004
USA . Fort Lauderdale
Dania Pointe
Cabot Circus GLA:990 280 SF
ADDRESS: Glass House, Bristol BS1 3BX
United Kingdom . Bristol
Cabot Circus
Queens Place GLA:440 000 SF
ADDRESS: 88-01 Queens Boulevard Elmhurst, NY 11373
USA . New York
Queens Place


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us