Land Securities sells two Scottish retail assets as portfolio reshape continues

9th Dec 2014 07:29

UK-listed property giant Land Securities has sold two retail assets in Livingston in West Lothian, Scotland, as it continues to refocus its shopping centre portfolio.The company has disposed of The Centre and Almondvale West Retail Park to HSBC Alternative Investments, together with Hines acting as asset manager, for £224.1m.The Centre is the second-largest covered shopping centre with an area of over 1m square feet and over 160 retailers.Meanwhile, Almondvale comprises just six units totalling 116,000 square feet."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," said Scott Parsons, the managing director of retail at Land Securities.