Delancey has agreed to sell 50% of the Southside shopping centre in Wandsworth, SW18, to Invesco.
Invesco has placed the stake in the 630,000 sq ft centre under offer for its European Direct Core Real Estate mandate.
The long-running sale kicked off at the start of the year with co-owner Land Securities also considering selling its stake, although this has now been scrapped.
The deal provides some positivity for the shopping centre investment market, which has seen a dramatic drop off in volumes this year partly due to the result of the EU referendum, and follows the sale of the Queensmere and Observatory shopping centres in Slough, which ADIA bought from Criterion Capital earlier this week for £130m.
Lunson Mitchenall is acting for Delancey; Knight Frank is acting for Invesco.
• To send feedback, e-mail david.hatcher@estatesgazette.com or tweet @hatcherdavid or @estatesgazette
