L&G to sell £230m mall
Legal & General Property has put Midsummer Place shopping centre in Milton Keynes up for sale following strong investor appetite in an initial offering for a 50% stake. The fund manager is now marketing a 100% share in the 430,000 sq ft mall for £230m – a 5.5% yield. Cushman & Wakefield is advising.
Tchenguiz case set for 2014
The Tchenguiz brothers’ damages claims against the Serious Fraud Office will be held in the high court at the start of 2014. The damages claims, which are expected to total hundreds of millions of pounds, have been set for trial in January. It is expected to last eight weeks.
Wolves regen partner sought
Wolverhampton city council has launched a search for a development partner to bring forward plans for a new central business district. The eight-acre Westside regeneration masterplan includes a 133-bedroom hotel, offices, housing, leisure facilities and a public park. The deadline for expressions of interest is 16 January.
Power station sales to begin
The Malaysian owners of Battersea Power Station are to begin selling the 800 homes in the first phase of development from next month. The January 2013 global sales launch is subject to final planning being approved by Wandsworth council this month. A UK exhibition will take place on the site of the power station.
BL director heads for Oxford
British Land development director Mike Rayner is to move to Oxford Properties. Rayner replaces Richard Pilkington at Oxford, who will be promoted to the role of senior vice-president. Rayner will continue to work on the Leadenhall Building, EC3, a joint venture between BL and Oxford, and will also take on the London Wall Place, EC2, project.
