F&C REIT has confirmed that it is in talks to acquire the Liffey Valley shopping centre on the western outskirts of Dublin. A spokesperson for F&C REIT told PropertyEU that negotiations are still ongoing with Aviva Investors and Grosvenor to buy the 44,000 m[sup]2[/sup] shopping centre near Dublin. An announcement is likely to be made after the Easter break.
F&C REIT has confirmed that it is in talks to acquire the Liffey Valley shopping centre on the western outskirts of Dublin. A spokesperson for F&C REIT told PropertyEU that negotiations are still ongoing with Aviva Investors and Grosvenor to buy the 44,000 m2 shopping centre near Dublin. An announcement is likely to be made after the Easter break.
According to an earlier news report in PropertyWeek, the UK real estate fund manager is teaming up with Area Property Parters to launch a EUR 350 mln bid for the centre. Area would not comment on the market rumours. DTZ and Savills are believed to be marketing the scheme.
Last week, Aviva Investors' head of UK real estate Richard Jones told PropertyEU that the company was re-considering a sale of the Irish asset after an attempt to sell it in the summer of 2008 failed. The disposal is part of Aviva Investors' strategy to reduce its exposure to large single properties. Earlier in March, the company also sold a 50% stake in the Bentall centre to Meyer Bergman for £130 mln.
