Almondvale shopping centre sold in £224m deal
A shopping centre and retail park has been sold in a £224 million deal.
The Centre and Almondvale West Retail Park in Livingston, West Lothian, has been bought by HSBC Alternative Investments.
Said to be Scotland’s second-largest covered shopping centre, The Centre houses more than 160 retailers, including Primark, Debenhams, BHS and M&S, and covers more than one million square feet.
Almondvale West Retail Park comprises six units totalling 116,000 sq ft which is let to retailers including TK Maxx and Matalan.
The properties were sold for £224.1 million by owner Land Securities.
Scott Parsons, managing director of retail at Land Securities, said: “The sale of The Centre and Almondvale West Retail Park follows a number of recent transactions demonstrating our clear commitment to reshaping our shopping centre portfolio to focus on dominant regional and Greater London assets.”
Land Securities, a commercial property company, owns and manages more than 25 million sq ft of property, from shopping centres to offices, valued at more than £13.2 billion.