Landsec has secured a 92% stake in Liverpool One shopping centre through a £490m transaction, reflecting its ongoing investment in high-performing retail spaces.
- This acquisition marks Landsec’s strategy to focus on prime retail destinations, providing brands with significant in-store retail opportunities.
- The Liverpool One purchase was previously held by Abu Dhabi Investment Authority and Grosvenor, enhancing Landsec’s ownership in top UK shopping centres.
- This move is part of a broader trend, as companies like Frasers Group also expand their shopping centre portfolios.
- Landsec’s CEO highlights the importance of targeting fewer but larger stores in premium locations to maximise retail potential.
In a significant move within the retail property sector, Landsec has successfully acquired a 92% stake in Liverpool One, a prominent shopping centre. The deal, valued at £490 million, underscores Landsec’s commitment to investing in brick-and-mortar retail properties that promise high returns.
This acquisition aligns with Landsec’s broader strategy of targeting the top 1% of UK shopping destinations, which CEO Mark Allan notes are integral for accessing a substantial portion of in-store retail spend. Allan stated, “The top 1 per cent of the UK’s shopping destinations provide brands with access to 30 per cent of all in-store retail spend, which is why we continue to see brands focus on fewer, but bigger and better stores in the best locations.”
The purchase from the Abu Dhabi Investment Authority and Grosvenor, previously holding 69% and 23% stakes respectively, strategically bolsters Landsec’s portfolio. With this acquisition, Landsec now controls seven of the top 30 shopping centres in the UK, reinforcing its market position.
This development comes amidst a competitive landscape where other major players like Frasers Group are also expanding their retail property portfolios. Recent acquisitions by Frasers include the Princesshay Shopping Centre in Exeter, Fremlin Walk Shopping Centre in Kent, and the Olympus Centre in Gloucester.
Such strategic investments highlight an industry trend towards consolidating holdings in premier retail locations, reflecting a shift from the broader hesitance in acquiring large malls. Companies are increasingly recognising the value and consumer draw of fewer, more strategically located retail spaces.
Landsec’s acquisition of Liverpool One exemplifies a forward-thinking approach in the evolving landscape of retail investments.
