Invezz Reports On Major Property Investment In London Retail Sector
Investors’ portal iNVEZZ.com has recently covered the news of a large-scale retail property investment made by the UK’s second-biggest real estate company. purchased an Â£184m property portfolio from Dutch investment fi
As reported by the investors’ portal, the British Land share price advanced modestly on 12 February 2013, a day after the REIT company announced via its own website, www.britishland.com, that it had purchased a portfolio of retail assets in a Â£184-million deal with Dutch investment firm Wereldhave. Revealing details regarding the agreement, iNVEZZ reported that the seller of the properties is “in the process of exiting the UK’s real estate sector a month after its withdrawal from the US market” - both moves related to the financial difficulties which the Dutch group has recently been experiencing. Providing a reference to a separate news item, previously-published on the iNVEZZ website, the author of the piece offers readers the opportunity to find out more about the reasons for Wereldhare’s exit from the two largest real estate markets in the world.
The new iNVEZZ item has further noted that the assets that British Land’s property investment includes are “five retail and office properties in Baker Street, Chiswick High Road, Putney High Street Fulham Road and Great Portland Street”. As a centrepiece of the purchased portfolio, however, iNVEZZ has pointed at Ealing Broadway Shopping Centre in west London.
British Land’s head of retail Charles Maudsley was quoted by the investor portal as saying that the Ealing mall “meets the needs of today’s consumers for convenient, well-located shopping”. The real estate company also sees opportunities to “grow and develop” the 30-years-old shopping centre, as its proximity to a Crossrail station under construction would provide it with an additional advantage over the competition.
iNVEZZ has further informed its readers about the latest price movements in the British Land stock, which has been positively affected by the news that the company is advancing in its stated target of becoming more specialised in retail and London office properties.
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