British Land sells shopping centre

British Land said yesterday it has sold its Eastgate Shopping Centre in Basildon to property investment group Infrared Capital Partners for £88.6m. The 700,000 square feet shopping centre is anchored by an Asda supermarket and a Debenhams department store, and also has two office buildings and a 696 space multi-storey car park. Head of retail Charles Maudsley said: “This year, we will continue to sell retail assets which do not fit our strategy and reinvest the capital where we see better growth and return potential.”