UK REIT Land Securities has sold The Centre and Almondvale West retail park in Livingston, Scotland, to a joint venture of HSBC Alternative Investments as investor and Hines as asset manager, for £224 mln (€285 mln).

UK REIT Land Securities has sold The Centre and Almondvale West retail park in Livingston, Scotland, to a joint venture of HSBC Alternative Investments as investor and Hines as asset manager, for £224 mln (€285 mln).

The centre is Scotland's second-largest covered shopping centre and totals more than 1 million sq ft (92,900 m2). It is home to over 160 retailers, including Primark, Debenhams, BHS and M&S, and has more than 2,500 parking spaces.

Almondvale West Retail Park comprises six units totalling 116,000 sq ft let to retailers including TK Maxx and Matalan.

'The sale of The Centre and Almondvale West Retail Park follows a number of recent transactions demonstrating our clear commitment to reshaping our shopping centre portfolio to focus on dominant regional and Greater London assets,' said Scott Parsons, managing director, retail at Land Securities.

Land Securities owns and manages more than 25 million sq ft of property, from shopping centres to offices, valued at over £13.2 bn.