Tue, 17 Jan 2012 | BUSINESS SALE
London & Stamford Property Plc has put its 50 per cent holding in Meadowhall shopping centre on the market, The Times has reported.
It is believed that London & Stamford has brought in agents from Savills to begin marketing its share of the site, that it owns with a Middle Eastern partner, in the next few months, with the aim of generating £1.6 billion. British Land owns the reminder of the shopping centre and is thought to be mulling selling its stake.
Meadowhall, located near Sheffield, is one of the largest shopping centres in the UK. Its 1.5 million sq. ft. of shopping space attracts 30 million visitors a year.
Yorkshire businessmen Eddie Healey and Paul Sykes built the mall on the site of a former steelworks, and opened it in 1990. British Land purchased it for £1 billion in 1999, before selling half the shares to London & Stamford for £588 million in 2009 in response to the property crash.
The sale process will be watched with interest by those looking to get a measure of the appetite for prime property, despite the current environment in the eurozone.
It is anticipated that purchasing a strongly performing out-of-town shopping centre will appeal to foreign investors with a hunger for trophy assets.
Meadowhall has seen some renovations in the past two years, with its food court being refurbished and the installation of new clothing retailers including Urban Outfitters.
The business offers a unique opportunity to invest in a company dedicated to providing exceptional care while promoting independence for young adults.
The business was founded over 15 years ago and is well renowned for their holistic service; delivering a compassionate, reliable and professional service to the variety of Children and Adults they support.
The business provides sought after services to assist NHS Mental Health Trusts and CCGs. Currently clients being supported are living with various diagnoses including; Learning Difficulties, Autism, Schizophrenia and Depression.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.