Bidders eye stake in Blue Water Shopping Centre

Property groups from across the globe have bid for Lend Lease’s £550m stake in the Bluewater Shopping Centre in Birmingham.

British groups Land Securities Group, British Land Company in partnership with Norges Banh, and Hammerson are all reported to be the final bidders for the 30% stake, The Times reported.

China’s Gingko Tree Investments, the US’s Simon Property Group, Australia’s Westfield Group and the sovereign wealth fund of Norway are also thought to be finalists.

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The winning bidder will inherit the right to manage the centre, The Times said.

A Lend Lease spokesman told City AM that the company has received “significant interest” for its stake and that it will look to sell “when the time right”.

Lingerie retailers trading from the shopping centre include Ann Summers, Leia, John Lewis, La Senza, Next, Boux Avenue, House of Fraser and Marks & Spencer.

 

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