Development Securities has signalled the end of its attempts to carry out the regeneration of Kirkby town centre in Liverpool. In a short statement on Monday, the London-based property company said it had sold its holdings in Kirkby 'at a value which equates to book value and the original cost incurred by Development Securities'.
Development Securities has signalled the end of its attempts to carry out the regeneration of Kirkby town centre in Liverpool. In a short statement on Monday, the London-based property company said it had sold its holdings in Kirkby 'at a value which equates to book value and the original cost incurred by Development Securities'.
Development Securities acquired the retail asset last year for £65mln, but its regeneration plans were countered by Tesco with a rival plan for a £400mln development. Development Securities confirmed at the start of April this year that it was in talks with Tesco, but said it would press ahead with its own plans if agreement could not be reached.
Development Securities' holdings in Kirkby comprised a pedestrianised shopping centre located at the heart of the town centre. The property comprises 25,500 m2 of retail and leisure space, including an indoor market.
