SOURCE: Land Securities Group PLC

December 05, 2014 11:19 ET

Land Securities Completes the Acquisition of a 1.6% Stake in Lend Lease Retail Partnership for £ 12.8 Million

LONDON, UNITED KINGDOM--(Marketwired - Dec 5, 2014) - Following the announcement on 25 June 2014 of Land Securities' (LSE: LAND) (OTC PINK: LSGOF) acquisition of a 30% stake in the Bluewater shopping centre in Kent and the announcement on 23 October 2014 of Land Securities' conditional acquisition of a 1.6% stake in Lend Lease Retail Partnership (LLRP) for £12.8m, Land Securities announces that this acquisition has now completed. LLRP's major investment is a 25% stake in the Bluewater shopping centre.

As a result of this acquisition, Land Securities economic interest in the Bluewater shopping centre, Kent, has increased by 0.4%.

Notes to editors:

Land Securities is the UK's largest listed commercial property company and a member of the FTSE 100. The company owns and manages more than 25 million sq ft of property, from shopping centres to offices, valued in excess of £13.2 billion.

In addition to its 25% stake in the Bluewater shopping centre, LLRP also owns 100% of Touchwood shopping centre, Solihull.

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