Real estate giant Landsec has acquired 100% ownership of the St David’s shopping centre in Cardiff as well as on taking on the adjacent former Debenhams store which is plans to transform with a focus on new bars and restaurants.
Landsec, which previously had a joint stake in the flagship shopping centre with Intu, has acquired the interest of its partner which is in property administration.
The administration has had no impact on the centre, which provides 1.4 million sq ft of retail space, with Landsec its operator. The company has also acquired full ownership of the vacate 165,000 sq ft Debenhams store in a deal with former joint owner British Land - which owned the freehold interest in around 140,000 sq ft with the rest held by Landsec and Intu.
