Pretoria - Listed intu Properties, a British Real Estate Investment Trust, focused on shopping centre management and development, reported on Monday that it had now completed the sale of its 63.523 percent interest in intu Bromley shopping centre.The centre is located in London’s largest borough and was sold to Alaska Permanent Fund Corporation for £177.9 million (R3.11 billion).
As part of the transaction, Alaska Permanent Fund Corporation has also acquired Aviva’s 21.475 percent interest in the centre.
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But the London Borough of Bromley is retaining its 15 percent interest and freehold of the centre, which will cease to be called intu Bromley.
Intu Properties said in October, when the transaction was announced, that it was selling its stake in the centre for £2 million more than its June valuation.
It said the transaction was in line with the company’s stated strategy of recycling capital into its £600 million UK development pipeline.