Capital Shopping buys remaining stake in Nottingham shopping centre

Just a few weeks after buying a majority stake in the Broadmarsh shopping centre in Nottingham, retail-focused real estate investment trust Capital Shopping Centres (CSC) has now acquired the remaining interest.

The firm announced on Thursday that it has agreed to buy the remaining 25% interest in Broadmarsh from Possfund Custodian Trustee Ltd for £18.3m, following the 75% stake it acquired on 9 November from Westfield Group for £55m.

The 487,000 sq ft shopping centre is now wholly-owned by CSC, and comprises of 80 units including BHS, Argos, Boots and Wilkinsons. CSC also owns 100% of the Victoria Centre, Nottingham city's other major shopping centre, and is said to be planning for a 540,000 sq ft extension.

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"CSC is delighted to have acquired this important asset in Nottingham. Common ownership of Victoria Centre and Broadmarsh greatly improves the prospect of transformational retail and leisure led development taking place within the city to the benefit of the local and wider Nottingham community," said chief executive David Fischel.

By 13:57, shares were 0.28% higher at 289.5p.

BC