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



DAY BEFORE YESTERDAY, USA:
Tesla stores are leaving mallsThe electric car maker is taking another blow to the position of malls that are losing tenants one-by-one.
DAY BEFORE YESTERDAY, Estonia:
The initial value of the 55,000 sq.m. complex is €85 million.
Jul 28, 2021, United Kingdom:
Two years after Philip Morris announced its plans to expand the British chain, it has become known of its intention to close it completely.
Jul 28, 2021:
Those who have not been vaccinated will not access public spaces, such as government offices, restaurants, and shopping malls.
Jul 27, 2021, United Kingdom:
The chain of luxury department stores, founded in 1909, may change ownership.
Jul 20, 2021, USA:
LVMH will acquire a controlling stake in Off-White, with its founder retaining 40%.
Friend
and Follow
Designer Outlet Provence GLA:269 098 SF
ADDRESS: Mas de la Peronne, Miramas, France
France . Miramas
Designer Outlet Provence
Optimum Outlet GLA:421 127 SF
ADDRESS: ve Eglence Merkezi | Istiklal Sokak No.2/B Yenisahra/Atasehir
Turkey . Istanbul
Optimum Outlet
Olympia Einkaufszentrum GLA:602 779 SF
ADDRESS: Hanauer Straße 68, 80993
Germany . Munich
Olympia Einkaufszentrum
Viaport Outlet GLA:748 092 SF
ADDRESS: Yenisehir Mah. Dedepasa Cad. No:19 Via Port - Pendik
Turkey . Istanbul
Viaport Outlet


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