Capital & Regional has increased its stake in the Mall Fund by nearly 6% after buying £16.9m of units from Friends Life.
Capital & Regional’s holdings in the £676m Mall Fund, which it co-founded with Aviva, will increase from 20.3% to 26.0%.
Chief executive Hugh Scott-Barrett said: “Following on from the recent disposal of the Great Northern Warehouse leisure scheme in Manchester the acquisition of these units represents an attractive opportunity to recycle capital into assets with significant asset management initiatives and growth potential. The Mall Fund remains central to our future strategy.”
The Mall Fund sold the Great Northern Warehouse scheme to Resolution Properties in November for £71.1m.
sophia.furber@estatesgazette.com
