Scottish Widows Investment Partnership is in advanced discussions to sell its Kingfisher mall in Redditch to Capital & Regional.
Capital & Regional, which was the original underbidder to London & Stamford, is understood to be in talks to buy the 1.1m sq ft scheme for around £140m.
As revealed by Estates Gazette, SWIP withdrew papers to sell the shopping centre to London & Stamford earlier this month after Raymond Mould and Patrick Vaughan’s property company failed to meet the timescale to exchange contracts.
Other bidders for the mall included Sovereign Land, Catalyst Capital and Blackstone and InfraRed Capital Partners.
SWIP brought the shopping centre to the market in June after nearly seven years of ownership.
Cushman & Wakefield and Jackson Criss are advising SWIP.
annabel.dixon@estatesgazette.com
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