Finance

Landsec acquires remaining 50% of St David’s shopping mall in Cardiff

By 2023-03-28T09:25:00

St David's Shopping Centre in Cardiff

Landsec has secured 100% ownership of St David’s shopping centre in Cardiff, following its purchase of the debt secured against the 50% share of the asset previously owned by intu.

Comprising separate transactions with two debt holders, the overall purchase price represents a discount to the £113m September 2022 book value of Landsec’s existing 50% share of the centre, with a net initial yield of 9.7%.

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