Advised by Colliers International’s UK Retail Investment team, Land Securities has sold The Centre and Almondvale West Retail Park, Livingston to HSBC Alternative Investments Limited as part of its Club Deal programme, together with Hines acting as asset manager, for £224.1m.
The Centre is Scotland’s second-largest covered shopping centre and totals more than 1m sq ft. It is home to over 160 retailers, including Primark, Debenhams, BHS and M&S, and has more than 2,500 parking spaces.
Almondvale West Retail Park comprises six units totalling 116,000 sq ft let to retailers including TK Maxx and Matalan.
Scott Parsons, Managing Director, 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”.