Acquisition

British Land Co PLC 22 December 2003 22nd December 2003 BRITISH LAND'S ABERDEEN ACQUISITIONS The British Land Company PLC has recently completed a series of acquisitions at the St. Nicholas Shopping Centre in Aberdeen, and now owns the whole of the Centre on a ground lease from Aberdeen City Council. The covered shopping scheme comprises 115,000 square feet and has a strong tenant mix with 94% of the space occupied by national multiple retailers. A 40% interest in the Centre had previously been owned by BL Universal, British Land's joint venture with GUS plc. British Land bought out the GUS interest and simultaneously acquired the remaining 60% held by a pension scheme for £31 million. On the same day British Land acquired for £11.6 million from L&R Partnership the long leasehold peppercorn interest in two prime shop units in the centre of the scheme occupied by Next and W. H. Smith. Bob Bowden, Property Investment Director of British Land, commented, "I am delighted to be able to piece together these interests, which will now enable us to consider future development plans for the Centre". Colliers CRE advised British Land on these transactions. La Salle Investment Management acted for the pension fund and the advisers to L&R Holding Partnership were Donaldsons. CONTACTS The British Land Company PLC John Weston Smith ) tel: 020 7467 2899 Robert Bowden ) tel: 020 7467 2892 Finsbury Limited Edward Orlebar ) tel: 020 7251 3801 Faeth Birch ) This information is provided by RNS The company news service from the London Stock Exchange
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