LAND : Land Securities sells its Bristol shopping centres
Land Securities has sold its 50% stake in Cabot Circus shopping centre, the adjacent Quaker Friars luxury goods and dining centre and high street shops. Collectively these generated rents of £17.3m for Land Securities – they fetched £267.8m, equivalent to a yield of 6.5%.
Land Securities and Hammerson built the centres in 2008 but Land Securities feels they no longer fit their strategic criteria.