Landsec completed the acquisition of a 92% stake in Liverpool ONE from ADIA and Grosvenor for £490m.

Landsec, a real estate company, completed the acquisition of a 92% stake in Liverpool ONE, a shopping centre, from ADIA, a globally-diversified investor, and Grosvenor, a diversified property group, for £490m. “The top 1% of the UK’s shopping destinations provide brands with access to 30% of all in-store retail spend, which is why we continue to see brands focus on fewer, but bigger and better stores in the best locations. As such I am delighted that we have added another top-ten centre with a highly attractive return profile – meaning our unique portfolio now includes seven of the top 30 centres in the UK. Liverpool ONE already has a great line-up of brands in a thriving location and we look forward to building on this with our leading operating platform to further add to its exciting growth story,” Mark Allan, Landsec CEO.