Westfield to sell off stake in London mall

Mon, 25 Oct 2010 | COMMERCIAL PROPERTY

The planned Westfield shopping centre in Stratford, east London, is to be part sold to a new fund backed by some of the world’s largest property investors.

The £1.5 billion mall, which forms the gateway to the 2012 London Olympics, is owned by Australian retail developer Westfield. Upon completion towards the end of next year, it will be the second largest shopping centre in the UK – at 1.9 million square metres - after Westfield at White City.

Westfield is currently in 'advanced talks' to sell a stake of as much as £750 million to the fund, which is being set up by Henderson Global Investors and will create a structure open to a group of major clients.

If the deal goes ahead, it will reduce the risk of development for Westfield, which is out on a limb in a tough financial climate – something which has stopped rival's projects.

Westfield Stratford will comprise 300 retail shops, including John Lewis and Waitrose, alongside a Vue cinema, 1.1 million square foot of office space and two hotels. The shopping centre is tipped to open in September next year.

Westfield is also reportedly considering restarting work on certain other UK schemes, potentially with investment partners to share the risk.


Share this article



Latest Businesses for Sale

Joinery Business
Bethnal Green, London, UK

This business specialises in offering professional, bespoke joinery solutions to its customers at competitive prices. It is capable of offering products such as: box sash windows, exterior/interior doors, shop fronts, fitted kitchens, staircases and...

Asking Price: £125,000
Turnover: £329,798

LEASEHOLD


Civil Engineering & Vegetation Management
East Midlands, UK

Mainly operating in the rail sector, services cover vegetation clearance and brickwork repairs to rail structures, such as bridges and tunnels. Works with approx. 20 active clients, circa 80% of whom provide reliable, repeat business. Offers invited.

Asking Price: Offers Invited
Turnover: £936,594

LEASEHOLD


Online & Retail Florist Business
Oldham, Manchester, North West, UK

Established in 1978. Excellent reputation. High profit margins. Mix of corporate and general public customers. Further growth potential. Seen large growth in online. Offers invited.

Asking Price: £70,000
Turnover: £327,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
10
 
Aug
 

Adelie Foods’ Urban Eat brand acquired by Samworth Brothers | BUSINESS SALE

Samworth Brothers has completed the £6.4 million acqui...

 
07
 
Aug
 

Wrexham-based wire firm falls into administration | ADMINISTRATION

Wire manufacturer Wrexham Wire has fallen into administratio...

 
06
 
Aug
 

Leading UK tour operator Ski Weekends enters administration | ADMINISTRATION

One of the UK’s leading ski tour operators Harris Holi...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
10
 
Aug
 

Adelie Foods’ Urban Eat brand acquired by Samworth Brothers | BUSINESS SALE

Samworth Brothers has completed the £6.4 million acqui...

 
07
 
Aug
 

Wrexham-based wire firm falls into administration | ADMINISTRATION

Wire manufacturer Wrexham Wire has fallen into administratio...

 
06
 
Aug
 

Leading UK tour operator Ski Weekends enters administration | ADMINISTRATION

One of the UK’s leading ski tour operators Harris Holi...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources