Now has a 66.25% stake in Bluewater (Il Sole 24 Ore Radiocor) - London, 25 Jun - The UK property company Landsec announced that it has completed the acquisition of an additional 17.5% stake in the UK shopping centre Bluewater from GIC for 120 million pounds, increasing its ownership to 66.25%.

Based on the income Landsec's existing investment in Bluewater generated over the year to March 2024, this acquisition increases the company's net rental income by 10.3 million pounds on an annualised basis.

"This transaction is in line with Landsec's objective to grow its investment in major retail destinations, recycling capital from its recent non-core disposals in an earnings accretive way," it said.

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(RADIOCOR) 25-06-24 12:50:38 (0331) 5 NNNN