Westfield to Sell Stake in UK’s Broadmarsh
Westfield Group has agreed to sell its 75 percent interest in the Broadmarsh centre in Nottingham to Capital Shopping Centres (CSC) for £55 million (€64.1 million). Possfund will continue to own a 25 percent stake in the shopping centre, which was Australia-based Westfield’s first acquisition in the United Kingdom. Westfield says that it is seeking now to concentrate efforts on “larger iconic centres” like those opened recently in London’s White City and Stratford districts. CSC owns Victoria shopping centre, Nottingham’s other large city-centre retail facility.