British Land has exercised its option on Meadowhall in Sheffield with a £600m cash payment.
The property giant has paid a total of £1.17bn for the UK’s fourth largest mall. It currently generates £66m a year in rent but this is expected to rise to £74.8m. British Land also has an option on 48 acres next to the shopping centre.
Developers of Meadowhall, Eddie Healey and Paul Sykes, will remain in charge of the centre.
The Times 03/11/99 page 39
