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Landsec reportedly in talks to take controlling stake in Bluewater Shopping Centre

By Huw Hughes

Nov 25, 2021

Report

Image: Bluewater

Landsec is reportedly in talks to buy Landlease’s 25 percent stake in Bluewater Shopping Centre for a knockdown price of 200 million pounds.

The two British property giants are close to agreeing on the deal, sources familiar with the talks told Property Week.

If the deal goes through, it would bring Landsec’s stake to 55 percent, giving it majority control of the 1.8 million square foot mall in Kent.

Landsec is also reportedly considering taking full ownership of the centre if the remaining four shareholders agree to sell.

Landsec bought a 30 percent stake in Bluewater from Lendlease in 2014 for 656 million pounds. Based on that price, the remaining 25 percent would have been valued at around 547 million pounds at the time.