LaSalle buys mall in UK for £98m

UK public property company, Capital & Regional, has sold a shopping centre in south-east London to LaSalle Investment Management for £7.9 million more than its valuation at the end of September.

LaSalle Investment Management has acquired a shopping centre in south-east London for £97.9 million ($161.5 million).

The seller, Capital & Regional, said Bexleyheath Shopping Centre is leased to tenants such as British clothes retailer, Marks & Spencer.

Capital & Regional, which is a public property company quoted in London, also said that the valuation of the asset at September 30 was £90.7 million – suggesting an improvement in value of £7.2 million since then. 

The fund LaSalle has acquired the property on behalf of has not been disclosed.