British Land and Landsec have held talks over an £800m asset swap.
Under a deal, Landsec would acquire British Land’s 50% share of Meadowhall in Sheffield, and British Land would take Landsec’s 10 retail parks in return. Talks between the two companies, which began last summer, are said to have stalled, although a deal remains a possibility.
Meadowhall, which is jointly owned by British Land and Norwegian bank Norges, was valued at £778.7m in March last year.
British Land has secured outline planning permission to develop 571,000 sq ft of land adjacent to the mall into warehouses.
Landsec’s 10 retail parks were valued at £405m in September.
