UK’s Top Retail, Food & Beverage Hub Attracts 22 Million Visitors Annually
- Landsec acquires a 92% stake in Liverpool ONE from ADIA (69%) and Grosvenor (23%).
- The acquisition is expected to deliver an unlevered IRR in line with Landsec’s guidance.
- Liverpool ONE attracts 22 million people per year and has a strong mix of retail, food, and beverage brands.
- Retail sales have grown by 5% over the past 12 months.
- Landsec now owns and manages seven of the top-30 shopping centers in the UK.
Landsec has acquired a 92% stake in Liverpool ONE from the Abu Dhabi Investment Authority (ADIA) and Grosvenor for £490 million. The acquisition aligns with Landsec’s objective to focus on major retail destinations, adding another top-ten center to its portfolio. Liverpool ONE, opened in 2008, offers a mix of retail, food, and beverage brands that attract 22 million visitors annually. Retail sales have grown by 5% over the past year, with occupancy at 96%. The deal includes performance-related overage provisions. Landsec expects the transaction to deliver an unlevered IRR in line with its recent half-year results and add 1.3p to EPS on an annualized basis after refinancing the existing debt. CEO Mark Allan expressed excitement about adding a top-ten center with an attractive return profile, while James Raynor of Grosvenor Property UK praised Liverpool ONE’s success and future growth potential.
Factuality Level: 9
Factuality Justification: The article provides accurate information about Landsec’s acquisition of a stake in Liverpool ONE from ADIA and Grosvenor, details about the financial aspects of the deal, and quotes from key figures involved in the transaction. It also includes relevant data on the performance of the shopping center and plans for future growth.
Noise Level: 4
Noise Justification: The article provides relevant information about a significant acquisition by Landsec, including financial details, expected returns, and the company’s strategic objectives. It also includes quotes from key executives involved in the deal. However, it could benefit from more analysis or context on the broader retail industry trends and potential risks.
Financial Relevance: Yes
Financial Markets Impacted: Yes
Financial Rating Justification: The article discusses Landsec’s acquisition of a stake in Liverpool ONE from ADIA and Grosvenor for £490m, impacting the company’s investment portfolio and financial performance. It mentions expected income return, ERV growth, and EPS impact. The transaction also includes performance-related overage provisions. This pertains to financial topics and affects the company’s operations in the retail and real estate market.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.
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