Land Securities has sold The Centre and Almondvale West retail park, both in Livingston, West Lothian, to HSBC Alternative Investments for £224.1m. HSBC completed the deal with Hines, which acted as asset manager.
As tipped by Estates Gazette, HSBC and Hines made a play for the properties earlier this year.
The Centre (pictured), at 1m sq ft, is Scotland’s second-largest covered shopping centre.
Almondvale West retail park comprises 116,000 sq ft of retail space and is let to brands including TK Maxx and Matalan.
Scott Parsons, managing director of retail at Land Securities, said: “The sale of The Centre and Almondvale West retail park follows a number of recent transactions demonstrating our clear commitment to reshaping our shopping centre portfolio to focus on dominant regional and greater London assets.”
Colliers International acted for LandSec.
