Capital Shopping Centres (CSC) has paid £28.5m for a 15.5% interest in UK Prime Property Partnership from Pensions Funds LP and Zeneca Property Pensions Fund. The deal lifts its stake in the Victoria Centre in Nottingham to 32.4%. The company is understood to have bought its new interest in the Victoria Centre at an initial yield of about 6.5%.
Capital Shopping owns Lakeside shopping centre at Thurrock, Essex. UK Prime Property Partnership previously owned 20% of the Victoria Centre. It also has a 50% stake in the Gracechurch Centre, Sutton Coldfield and the Elmsleigh Centre, Staines.
- The Daily Telegraph 07/01/97 page 23
- Financial Times 07/01/97 page 16
- The Times 07/01/97 page 24
