Monday, August 19, 2013

Livingston Designer Outlet sold in £52m deal

By Scott McCullochAug 13 2013 Business Insider

LaSalle Investment Management has acquired the West Lothian shopping centre

McArthurglen Livingston Designer Outlet in West Lothian has been sold to LaSalle Investment Management in a deal valued at £52 million.

The 298,064 sq ft shopping centre, which was built by McArthurGlen in 2000, is anchored by Marks & Spencer, Vue Cinema and Gap.

Land Securities, Aviva Investors, McArthurGlen and the Richardson Property Group were the sellers.

Ashley Blake, director of retail portfolio management at Land Securities, said: “The sale of our ground lease interest in the DOC Livingston fits our strategy of recycling capital and reinvesting in assets where we have management control and the ability to pro-actively add value.”

Property agent DTZ advised Land Securities and Aviva Investors on the deal and Briant Champion Long advised LaSalle Investment Management

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