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Landsec Closes GBP516 Million Purchase of Metrocentre

MT Newswires·10/29/2026 10:41:31
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10:41 AM EDT, 10/29/2026 (MT Newswires) -- Land Securities Group (LAND.L) completed its acquisition of the Metrocentre shopping center in Gateshead, UK, for a net cash consideration of 516 million pounds sterling. The purchase price reflects a 7.9% yield based on Metrocentre's in-place net rental income of 41 million pounds, which the British property investment company expects to improve by 40 basis points in the short term, according to a Thursday filing.