Canterbury City Council has bought a 50% stake in the city’s Whitefriars shopping centre, for £80m.
The deal, which reflects a 6% yield, is thought to be one of the largest investment transactions to complete since the EU referendum vote.
It has bought the stake from the Canada Pension Plan Investment Board, which put the share up for sale at the end of last year through CBRE.
The 600,000 sq ft mall has 80 shops, and the other half is owned by TH Real Estate.
Cushman & Wakefield acted for the council; CBRE represented CCPIB.
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