Jones Lang LaSalle UK has been appointed by Universities' Superannuation Scheme (USS) to market Telford Shopping Centre in Shropshire, UK for about £460 mln (EUR 679 mln). Property Week reported that USS has decided to sell the 92,902 m[sup]2[/sup] shopping centre because it wants to reduce its exposure to large retail properties in the UK.
Jones Lang LaSalle UK has been appointed by Universities' Superannuation Scheme (USS) to market Telford Shopping Centre in Shropshire, UK for about £460 mln (EUR 679 mln). Property Week reported that USS has decided to sell the 92,902 m2 shopping centre because it wants to reduce its exposure to large retail properties in the UK.
The Universities Superannuation Scheme is a pension scheme in the UK. It bought Telford Shopping Centre in 1990. The centre is an indoor mall with over 180 shops and Sherwood Square in the centre is home to the 'Telford Time Machine', a large animated feature clock spanning most of the width of the square.
The pension scheme's other property assets included Forestside Shopping Centre in Belfast which was bought from Sainsbury's for £50 mln in 1998 and sold for £70 mln three years later.
