Institutional Investors Eye Bluewater Shopping Centre in UK

Institutional investors are circling in on Bluewater, one of Europe’s largest shopping centres located in Kent. The UK property was developed by Lend Lease and opened in 1999. With over 340 stores and businesses, the mega shopping centre is owned by a number of institutional investors including M&G Real Estate, Singapore’s GIC Private Limited, Lend Lease and Hermes. GIC Private Limited owns a 17.5% stake in Bluewater. Lend Lease is looking to sell its £550 million, 30% stake in Bluewater. In 2013, Bluewater was valued at £1.83 billion.

Bidders include Hammerson, AustralianSuper, Westfield, British Land (with Norges Bank Investment Management), Land Securities, M&G Real Estate, Simon Property Group and Hines. Another interested party is Gingko Tree Investments, a real estate subsidiary of China’s SAFE Investment Company.

Morgan Stanley is the advisor for Lend Lease.

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