Land Securities and Delancey have exited the Metro Shopping fund following completion of the sale of Delancey’s 50 per cent stake in the Southside shopping centre in Wandsworth to Invesco Real Estate for £150m, and the sale of Land Securities’ 50 per cent stake in ShopStop, Clapham Junction to a Delancey client, the DV4investment fund.
Southside provides 630,000 sq ft of prime retail and leisure space in Wandsworth, south west London and is now held by a 50/50 joint venture between Land Securities and Invesco. Land Securities has taken over the asset management of Southside, while Delancey has taken full asset management responsibility for ShopStop, a 70,000-sq ft mixed-use scheme comprising a range of shops, cafes and bars at the entrance to Clapham Junction station.
Ailish Christian-West, head of shopping centres at Land Securities, said: “The sale of Shopstop follows a strong period of growth. We are delighted to be taking on asset management responsibilities at Southside and welcome Invesco as our new partner.”