UK REIT British Land has sold a 50% stake in its Meadowhall shopping centre for £588 mln (EUR 673 mln) to AIM-listed property investor London & Stamford and a partner. In a statement issued on Monday, British Land said it has exchanged contracts to form a new 50:50 joint venture partnership for the freehold interest in its flagship property located near Sheffield. The transaction reflects a net initial yield of 6.75%. The deal will complete on 11 February.
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