Landsec buys majority stake in Liverpool One shopping centre for £490m

Property giant Landsec has acquired a controlling stake of 92 per cent in Liverpool’s largest shopping destination, Liverpool One, as part of its strategy to expand its retail portfolio. The company purchased the stakes from the Abu Dhabi Investment Authority (Adia), which owned 69 per cent, and Grosvenor, which held 23 per cent, for a total of £490m.

This acquisition follows months of negotiations, with Adia previously withdrawing from a £350m deal to sell its stake in Liverpool One to Landsec earlier this year. With this latest addition, Landsec's retail portfolio now encompasses seven of the top 30 centres in the UK, inc