Bourne End, which quit the stock market in January 2001, has sold the Loreburne shopping centre in Dumfries, Scotland for £23.5m.
The move forms part of the shopping centre specialist’s stated strategy of liquidating all of its assets after repositioning them, and returning capital to shareholders.
Bourne End enhanced the value of the 97,000 sq ft (9,010 sq m) shopping centre via the completion of a long-term anchor lease agreement with Next.
It has now sold 12 of the 15 properties it owned when it quit the quoted sector.
Bourne End’s remaining town shopping centres in England range in size from 74,000 sq ft (6,875 sq m) to 330,000 sq ft (30,660 sq m).
References: EGi News 16/10/03
