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Land Securities and Delancey exit The Metro Shopping Fund

Land Securities and Delancey have exited The Metro Shopping Fund following completion of the sale of the 50 per cent stake in Southside Shopping Centre currently held by DV4, clients of Delancey, to Invesco Real Estate for €179m (£150m), and the sale of Land Securities 50 per cent stake in ShopStop, Clapham Junction to DV4. The third-party debt in the fund has now been repaid.Southside provides 630,000 sq ft of prime retail and leisure space in Wandsworth, south west London and is now held by a 50/50 joint venture between Land Securities and Invesco. Land Securities has taken over the asset management of Southside, whilst Delancey has taken full asset management responsibility for ShopStop, a 70,000 sq ft mixed-use scheme comprising a ra...[…]