British REIT, Pension Fund To Develop £64M Mall

Law360, New York (December 2, 2011, 3:47 PM EST) -- A leading British real estate investment trust and that country's second-biggest pension plan are teaming up to transform a small outlet mall in the southern coastal region of Hampshire into a £64 million ($100 million) shopping center development, the companies announced Friday.

British Land Company PLC, one of England's biggest REITs, and the Universities Superannuation Scheme Ltd., a retirement fund for college teachers, said half of the 300,000 square feet at the planned Whiteley Shopping Centre is already rented.

“Whiteley has the success factors we look...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.