British Land and Landsec consider £800m asset swap

21st March 2022

// British Land and Landsec are seeking an £800m asset swap

// Landsec is looking to take British Land’s 50% stake in Meadowhall

British Land and Landsec are seeking an £800 million asset swap in an effort to rebuild their share prices.

The property landlords are in talks to strike a deal that would see the Meadowhall shopping centre in Sheffield change hands.

Landsec is looking to take British Land’s 50% stake in Meadowhall in return for 10 of its retail parks.

Meadowhall, which is jointly owned by British Land and Norwegian bank Norges, was valued at £778.7 million in March 2021.

The retail parks have been valued at £405 million.

British Land has also received planning permission to build a warehouse next to the centre.

In December, Landsec paid £172 million for an additional 25% share of the Bluewater shopping centre.

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Property Shopping Centres

21st March 2022

Sahar Nazir

// British Land and Landsec are seeking an £800m asset swap

// Landsec is looking to take British Land’s 50% stake in Meadowhall

British Land and Landsec are seeking an £800 million asset swap in an effort to rebuild their share prices.

The property landlords are in talks to strike a deal that would see the Meadowhall shopping centre in Sheffield change hands.

Landsec is looking to take British Land’s 50% stake in Meadowhall in return for 10 of its retail parks.

Meadowhall, which is jointly owned by British Land and Norwegian bank Norges, was valued at £778.7 million in March 2021.

The retail parks have been valued at £405 million.

British Land has also received planning permission to build a warehouse next to the centre.

In December, Landsec paid £172 million for an additional 25% share of the Bluewater shopping centre.

Click here to sign up to Retail Gazette‘s free daily email newsletter

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