Norwich Union has paid £33.6m for the property interestsof Bentalls.
The Kingston-based department store group has exercised a putoption to sell 17% of rental income from the Bentalls Centre.The Centre was redeveloped with Norwich Union in the 1980s. Thereare 100 units besides Bentalls occupying the site.
Bentalls will be investing £26m in a new 12,077 sq m(130,000 sq ft) store in Bristol and distributing the rest toshareholders.
- Financial Times 04/06/97 page 20
- The Daily Telegraph 04/06/97 page 34
