Meadowhall £750m sale report: Owner British Land talks up retail park investment opportunities

The owners of Meadowhall have refused to comment on reports that the Sheffield shopping centre is to be put up for sale with a price tag of £750m – with proceeds invested in deals for smaller retail parks.
The Sunday Times has reported that property giant British Land is preparing for the sale, with agents from CBRE appointed to handle a process that “will kick off in the coming weeks”.

Both British Land and CBRE refused to comment when contacted by The Yorkshire Post.

Meadowhall is jointly owned by British Land and Norway’s sovereign wealth fund Norges.

British Land purchased Meadowhall in 1999 for £1.2bn, nine years after it opened, from developers Eddie Healey and Paul Sykes.

The Sunday Times said the £750m asking price suggests the value of Meadowhall has halved since 2012, when Norges purchased a 50 per cent stake that valued the shopping centre at £153m.

The paper said British Land would put proceedings from sales into buying retail parks.

A statement to the London Stock Exchange by British Land on Tuesday did not mention anything in connection with the prospective Meadowhall deal but instead highlighted the company’s belief that retail parks currently represent an “attractive investment”.