Landsec has completed the acquisition of a further 10% stake in Bluewater shopping centre in Kent for £95m in cash, taking its ownership to 74.0%.
Why Landsec (Land Securities Group) is buying Bluewater (further 10% stake)
Landsec said Bluewater benefits from leading brands focusing on fewer, bigger and better stores in the best locations. Retail sales at the centre rose 7.4% and footfall 3.0% in the five months to 31 August 2026, against UK national averages of -1.7% and 0%.
Deal terms and financing
The £95m net cash consideration represents a yield of 7.4% based on the net rental income Landsec's existing investment generates. The seller was not named.
Market context
Property Week noted that Landsec bought GIC's 17.5% stake in Bluewater for £120m in 2024, and that two weeks earlier Landsec had exchanged contracts to buy Gateshead's Metrocentre for £516m.
