Tiscali, 21 Dec 2008, Sinead Cruise
LONDON (Reuters) - Property firm Hammerson has set up a joint venture by selling a 50 percent stake in WestQuay Shopping Centre for 299 million pounds to an affiliate of the Government of Singapore Investment Corp.
Hammerson and GIC Real Estate will each hold their respective 50 percent interests in the 76,200 square metre property venture in Southampton, Hammerson said in a statement on Tuesday.
The joint venture illustrates GIC Real Estate’s ambitions to increase its holdings of British retail property. In March, the company bought a 40 percent stake in the MetroCentre in Gateshead, north eastern England for 426 million pounds from Liberty International.
Read More
