Eastbourne shopping centre sold

An Eastbourne shopping centre has been sold for £19 million, it has been revealed this morning.

Tuesday, 5th April 2016, 9:43 am
Updated Tuesday, 5th April 2016, 9:46 am
Langney Shopping Centre SUS-160504-084915001

Schroders Columbus Fund and London & Associated Properties have sold the Langney Shopping Centre to Tyburn Lane Private Equity and Vale Retail.

The 130,000 sq ft centre - which has 31 units - is located on an 11 acre site and has detailed planning consent for a new extension.

Economists say the new owners will be working with the local authority to bring this forward.

Langney Shopping Centre. Day of re-opening following roof collapse in December 2012. June 21st 2013 E26009P ENGSUS00120130622091936

Schroders and London & Associated Properties bought the shopping centre from Stockland Ventures in 2011 in an off-market deal worth around £16million.

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Langney Shopping Centre. Day of re-opening following roof collapse in December 2012. June 21st 2013 E26005P ENGSUS00120130622091844

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Langney Shopping Centre. Day of re-opening following roof collapse in December 2012. June 21st 2013 E26009P ENGSUS00120130622091936

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Langney Shopping Centre. Day of re-opening following roof collapse in December 2012. June 21st 2013 E26005P ENGSUS00120130622091844