British Land snaps up mall

Kasmira Jefford
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BRITISH Land has bought a 50 per cent stake in Bath’s SouthGate shopping centre for £101m.

The property giant, has been on a spending spree since raising almost £1bn in March through its placing and the sale of Ropemaker Place.

In April it paid £48m for Tesco’s 50 per cent stake in Surrey Quays shopping mall and in July it bought a scheme in Paddington for £470m.

Southgate is located in an affluent area of Bath and has more than 18m visitors a year. It is anchored by retailers including Debenhams.