6 Mar 2008
Robert Lindsay
The much-battered property sector received a boost amid reports of a potential bid for Liberty International, the shopping centre developer.
Liberty’s shares bounced 87p to £10.30 on twice the average volume. Westfield, of Australia, one of two rumoured candidates and owner of the White City centre in West London, may have a job persuading shareholders who have had their fingers burnt with the collapse of Centro, the shopping centre investor.
The other potential predator – GIC, the state investment company of Singapore – is thought to have looked at buying Meadowhall, in Sheffield, from British Land, but could not agree terms. Sir Donald Gordon, Liberty’s founder and former chairman, who holds 21 per cent, is said to have been buying stock of late.
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