Landsec

Landsec, one of the UK's largest property firms, has agreed to buy the Metrocentre shopping centre in Gateshead, Tyne and Wear, for £516 million. The deal, reported by the Standard, also involves Bluewater in Kent and is linked to the assets of the former Intu group. The purchase signals Landsec's renewed appetite for major retail destinations.

British property company Landsec has announced a conditional retail offer, giving individual retail investors the chance to subscribe for shares subject to conditions being met. Details of the offer's size, pricing and conditions were not included in the initial announcement. The move is drawing attention among investors watching the UK commercial property sector.