Retail and leisure investor Capital & Regional has bought the remaining 25 per cent interest in the O2 centre on London's Finchley Road, on behalf of its X-Leisure fund.
The deal values the centre at more than£100 million. At the same time, the£550 million X-Leisure fund has completed its first disposal, with the sale of Dundee's Stack Leisure Park to Towntalk.
The O2 centre, developed by Burford, opened in 1999 and is one of the UK's most successful retail and leisure destinations, anchored by an eight-screen Vue multiplex cinema and an 80,000 sq ft (7,650 sq m) Sainsbury's supermarket. The centre attracts more than 6.7 million visitors a year.
X-Leisure chief executive PY Gerbeau said: 'Now we are 100 per cent owners and managers of this leading leisure and retail destination, we have plans that can be implemented for the benefit of consumers, tenants and investors'.
The strategy will aim to position the centre as a family entertainment and shopping destination.
No comments yet