UK REIT Land Securities confirmed it is considering the sale of its 33% stake in the Bullring shopping centre in Birmingham. The sale of one-third of the 120,000 m[sup]2[/sup] landmark shopping centre in Britain's second city is expected to attract bids of more than £300mln (EUR 372mln).
UK REIT Land Securities confirmed it is considering the sale of its 33% stake in the Bullring shopping centre in Birmingham. The sale of one-third of the 120,000 m2 landmark shopping centre in Britain's second city is expected to attract bids of more than £300mln (EUR 372mln).
The 40-acre Bullring is one of Europe’s largest city-centre regeneration projects. Land Securities is part of the Birmingham Alliance, together with Hammerson and Henderson Global Investors, which developed the shopping centre in 2003.
A spokeswoman for Land Securities said: 'As part of our regular review of the assets in our portfolio, we are considering a sale of our 33% stake in Bullring shopping centre.'
