UK focused specialist property REIT Capital & Regional has sold a shopping centre in Luton to SDI (Luton) Limited and SDI (Luton 2) Limited for £58 mln (€66.1 mln) in cash.
The property in Bedforshire had previously been deconsolidated, so gross assets related to the investment are nil and the transaction does not result in any profit or loss on disposal to the group.
The Mall Luton is a 83,613 m2 primary shopping venue within a thriving London satellite town with a strong employment base and a growing population.
The average weekly footfall is 205,177 within a core catchment area of 237,441.
Purchased in January 2006, The Mall Luton has undergone rapid changes and substantial investment, transforming and modernising both the malls and car parks, while regeneration has created new space and retail units.
The Mall Luton has 158 retailers, including anchor tenants such as Argos, Boots, Tesco, TK Max, H&M, River Island and TopShop.
Capital & Regional owns and/or manages shopping centres in Hemel Hempstead, Ilford, Maidstone, Redditch, Walthamstow and Wood Green