Frasers Group has bought the Mall in Luton for £58m.
Capital & Regional confirmed it had sold the 900,000 sq ft shopping centre to SDI (Luton), which is controlled by SDI, Frasers Group’s property arm.
But Capital & Regional will not see a profit from the sale, having previously deconsolidated its interest. The net proceeds will be handed to the secured lender, Wells Fargo.
Capital & Regional will also cease to be the Mall’s property and asset manager, for which it generated fees of £1.4m in 2022.
The Mall was put up for sale last summer with a price tag of £81m.
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