CSC snaps up remaining Broadmarsh stake
Capital Shopping Centres has paid £18.3m for the remaining 25 per cent stake in Nottingham's Broadmarsh shopping centre.
It bought the chunk from Possfund Custodian Trustee Limited, represented by LaSalle Investment Management.
It had recently paid £55m for the initial 75 per cent owned by Westfield, and now owns 100 per cent of the Broadmarsh Retail Limited Partnership.
David Fischel, CSC's chief executive, said: "Common ownership of Victoria Centre and Broadmarsh greatly improves the prospect of transformational retail and leisure led development taking place within the city to the benefit of the local and wider Nottingham community.
"The Victoria Centre has been at the heart of Nottingham for over 40 years and this acquisition further underlines our commitment to the city, which is one of the UK's top ranking retail destinations. We look forward to working with Nottingham City Council on this exciting opportunity."
Broadmarsh comprises about 80 units and 487,000 sq ft and is anchored by BHS, Argos, Boots and Wilkinsons with annual footfall of 17 million.
