Livingston shopping centres sold for £224m

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Commercial property group Land Securities has sold The Centre and Almondvale West Retail Park in Livingston for £224.1 million.

The retail destinations have been bought by HSBC Alternative Investments, which was advised on the deal by law firm Pinsent Masons.

Land Securities was advised by the UK retail investment team at Colliers International.

The Centre is Scotland’s second-largest covered shopping centre, totalling more than one million square feet. It is home to more than 160 retailers, including BHS, Debenhams, Marks & Spencer and Primark.

Almondvale West Retail Park comprises six units totalling 116,000 sq ft, let to retailers including Matalan and TK Maxx.

Scott Parsons, retail managing director at Land Securities, said: “The sale of The Centre and Almondvale West Retail Park follows a number of recent transactions demonstrating our clear commitment to reshaping our shopping centre portfolio to focus on dominant regional and Greater London assets”.