British Land has sold its 50 per cent stake in the Meadowhall shopping centre to its partner Norges Bank Investment Management for £360m.
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00:00 Hello, my name is Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.
00:06 I bring you some breaking business news about one of the biggest shopping centres in the
00:10 United Kingdom, which has played a major role in the regeneration of South Yorkshire's economy.
00:16 British Land has sold its 50% stake in the Meadowhall Shopping Centre to its partner
00:22 Norwich Bank Investment Management for £360 million.
00:28 As part of the deal, British Land will remain as asset manager of Meadowhall, for which
00:32 it will continue to earn fees in line with its current terms.
00:37 The transaction is expected to complete in July 2024 and British Land said the proceeds
00:43 will be used for general corporate purposes.
00:46 So a massive deal affecting a well-known shopping centre.
00:50 British Land has sold its 50% stake in the Meadowhall Shopping Centre to its partner
00:54 Norwich Bank Investment Management for £360 million.
01:00 My name is Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.
01:03 [BLANK_AUDIO]