A London-based property firm are the new owners of Liverpool ONE.
Landsec struck a £490 million deal for their 92% stake in the city centre retail and leisure development after buying out its two existing major shareholders.
A 69% share was acquired from the Abu Dhabi Investment Authority while he remaining 23% came from an arrangement Grosvenor Property UK.
James Raynor, Grosvenor Property’s CEO, said: “Liverpool ONE is a phenomenal destination and we’re incredibly proud of what we’ve accomplished with and for the city over the last 25 years.
“It’s not only one of the most remarkable regeneration stories, redefining what long-term investment and partnership can achieve, it continues to be one of the UK’s most successful retail and leisure destinations.
“And, under the unified ownership and management of Landsec, we know it will continue to thrive.
“Looking ahead, we have ambitious plans to grow and diversify the business and we will reinvest the proceeds from the sale in our core portfolio including our 10-year programme of investment in London and residential debt business, which has supported the delivery of 3,370 homes in just two years.”
