News Column

British Land sells shopping centre

January 23, 2014

British Land said yesterday it has sold its Eastgate Shopping Centre in Basildon to property investment group Infrared Capital Partners for 88.6m. The 700,000 square feet shopping centre is anchored by an Asda supermarket and a Debenhams department store, and also has two office buildings and a 696 space multi-storey car park. Head of retail Charles Maudsley said: "This year, we will continue to sell retail assets which do not fit our strategy and reinvest the capital where we see better growth and return potential."

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Source: City A.M. (UK)

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