Mon, 25 Oct 2010 | COMMERCIAL PROPERTY
The planned Westfield shopping centre in Stratford, east London, is to be part sold to a new fund backed by some of the world’s largest property investors.
The £1.5 billion mall, which forms the gateway to the 2012 London Olympics, is owned by Australian retail developer Westfield. Upon completion towards the end of next year, it will be the second largest shopping centre in the UK – at 1.9 million square metres - after Westfield at White City.
Westfield is currently in 'advanced talks' to sell a stake of as much as £750 million to the fund, which is being set up by Henderson Global Investors and will create a structure open to a group of major clients.
If the deal goes ahead, it will reduce the risk of development for Westfield, which is out on a limb in a tough financial climate – something which has stopped rival's projects.
Westfield Stratford will comprise 300 retail shops, including John Lewis and Waitrose, alongside a Vue cinema, 1.1 million square foot of office space and two hotels. The shopping centre is tipped to open in September next year.
Westfield is also reportedly considering restarting work on certain other UK schemes, potentially with investment partners to share the risk.
The company is an automatic and industrial door supplier, installing a variety of systems, including but not limited to, automatic doors, fire resistant shutters, entrance barriers, roller shutters and garage doors.
Well-established company operating for over 23 years. Offers a range of driving positions, which include day runs, local runs, local shunting, nights out and tramping.
The company is a business-to-business wholesaler of cask ales, continental lagers, and craft cider. Since its establishment, the business has cultivated strong relationships with high-profile and local breweries, gaining exclusive access to their pro...
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