Great Universal Stores (GUS) and British Land have created BL Universal. The joint venture will manage the retail group’s large investment property portfolio. British Land is paying £230m to GUS through a share placing.
The new company will own 982 high street and shopping centre properties. They will have gross assets of £960m and a net asset value of £868m.
- Financial Times 28/02/97 page 24
- The Times 28/02/97 page 25, page 26 (Tempus)
- The Independent 28/02/97 page 21
- The Daily Telegraph 28/02/97 page 33. [age 35 (City Comment)
