Landsec Prices £500 Million Equity Issue to Help Fund Metrocentre Deal - FINCHANNEL

Landsec Prices £500 Million Equity Issue to Help Fund Metrocentre Deal - FINCHANNEL

LONDON — Land Securities priced a £500 million equity issue to help fund its agreed purchase of Gateshead’s Metrocentre for £516 million and expand its ownership of existing retail assets. The London-listed property company said in its October 1 placing-results announcement that the institutional placing, retail offer and director subscriptions together comprised 83,345,000 new shares […]

Landsec Strikes £516m Metrocentre Deal as Major Retail Investment Accelerates

Landsec has exchanged contracts to acquire 100% ownership of Metrocentre in Gateshead for £516 million, securing control of one of the UK’s largest shopping and leisure destinations as it steps up investment in major retail assets. The landmark transaction will add approximately 1.86 million sq ft of lettable floorspace to Landsec’s portfolio, with Metrocentre currently home to 282 stores and generating annual retail sales of around £650 million…