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Land Securities sells its Bristol shopping centres

LAND : Land Securities sells its Bristol shopping centres

Land Securities has sold its 50% stake in Cabot Circus shopping centre, the adjacent Quaker Friars luxury goods and dining centre and high street shops. Collectively these generated rents of £17.3m for Land Securities – they fetched £267.8m, equivalent to a yield of 6.5%.

Land Securities and Hammerson built the centres in 2008 but Land Securities feels they no longer fit their strategic criteria.

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