Landsec, formerly Land Securities, completed the £111.9m purchase of a 42% portion of the X-Leisure Unit Trust, and acquired 100% of its management company, X-Leisure Limited.

Xscape MK

Source: Shutterstock/ Pajor Pawel

The deal raised Land Securities’ holding in the X-Leisure Fund, owner of Xscape Milton Keynes (pictured), to 54%, while X-Leisure

Limited became a wholly owned subsidiary of Land Securities.

The move also meant X-Leisure Limited chief executive Pierre-Yves Gerbeau “[left] the business to take on new challenges” following the transfer of the management company.