Southside Shopping Centre Image: Land Securities
Investment

Delancey and Land Securities divest

Land Securities and Delancey have exited The Metro Shopping Fund.

This comes after Delancey client DV4’s sale of its 50% stake in Southside Shopping Centre to Invesco Real Estate for £150 million (€178 million), and Land Securities’ sale of its 50% stake in ShopStop, Clapham Junction, to DV4.

The third-party debt in the fund has now been repaid. Southside provides 59,000 sq m of prime retail and leisure space in Wandsworth, southwest London and is now held by a 50/50 joint venture between Land Securities and Invesco.

Land Securities has taken over the asset management of Southside, while Delancey has taken full asset management responsibility for ShopStop, a 6,500-sq-m, mixed-use scheme comprising a range of shops, cafes, and bars at the entrance to Clapham Junction station.

Ailish Christian-West, Head of Shopping Centres at Land Securities, said: “The sale of Shopstop follows a strong period of growth. We are delighted to be taking on asset management responsibilities at Southside and welcome Invesco as our new partner.”

Follow ACROSS

Download

fb-art 150

Share this article

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Investment MORE

Polish Retail sector dominated by portfolio deals

Investors feel safe again in Poland. The total volume of investment transactions in H1 2022 amounted to almost 2.9 billion Euro, which was more than 40% more than in the same period last year. 28% of all investments were made in the shopping center sector.

Evolve Estates acquires Three Spires shopping center in Lichfield

Evolve Estates has acquired a prime open-air shopping center in the heart of Lichfield in England, its biggest retail acquisition of 2022.

Altera acquires local shopping center Het Stroink

Altera Vastgoed has acquired off-market local shopping center Het Stroink in Enschede (NL) from WP Retail Invest CV (“WPRI”). The center has recently been renovated by WPRI to create a retail complex with a pharmacy, a medical center, three primary schools, a nursery and a petrol station.

Upcoming challenges for the Polish investment market

Avison Young reports on the property investment market in Poland after Q1 2022.

LaSalle acquires £600m UK designer outlet portfolio

LaSalle Investment Management has acquired two outlet centers in the United Kingdom, McArthurGlen Designer Outlet Cheshire Oaks and McArthurGlen Designer Outlet Swindon, for £600 million from Nuveen Real Estate.

Mitiska REIM acquires retail center in Beek (NL)

Mitiska REIM announced the acquisition of Makado Beek retail center from Syntrus Achmea, on behalf of the First Retail International 2 Fund (FRI 2) and in partnership with local co-investment partner and asset manager 3W Real Estate. It is one of the largest retail centers in the Netherlands, attracting over 3 million visitors per year.