Property investor sells off its 50% stake in Meadowhall Shopping Centre
British Land says it wants to focus on retail parks and reduce its exposure to covered shopping centres
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British Land says it wants to focus on retail parks and reduce its exposure to covered shopping centres
British Land has owned the shopping centre since 1999, when it paid £1.07 billion for the retail destination, later selling half of its holding to form a joint venture
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Real estate investment trust British Land has its 50% stake in Sheffield retail destination Meadowhall for £360m, offloading an asset it has held for 25 years.
British Land Company Plc (BLND.L), a real estate investment trust, said on Monday that it agreed to sell its 50 percent stake in Meadowhall Shopping Centre to its partner Norges Bank Investment Management for 360 million pounds to focus on retail parks and reduce exposure to covered shopping centers.