Land Securities buys 25% stake in Bluewater for £172m

Land Securities said it had bought an additional 25% share in the Bluewater shopping centre from Lendlease Retail Partnership for £172m.

In a separate deal, Landsec will sell 25% of this share to co-owner M&G for its pro rata share of the purchase price with the deal completing in April 2022, at which point Landsec's ownership of Bluewater will be 48.75%.

Located in North West Kent, Bluewater is one of the UK's largest out of town shopping centres and the largest of its kind in the South East of England with an annual turnover in excess of £1bn.