Land Securities Group PLC (LON:LAND), Landsec, has announced that it has completed the acquisition of an additional 10% stake in Bluewater, one of the top-10 retail destinations in the UK.
The net cash consideration for the acquisition of £95m represents a yield of 7.4% based on the net rental income Landsec’s existing investment in Bluewater is generating. The acquisition increases Landsec’s ownership interest in Bluewater to 74.0% and improves the operational flexibility of its overall investment, driving additional efficiency benefits.
Bluewater is a key beneficiary of the ongoing focus of leading brands on fewer, bigger, better stores in the best locations. Over the five months to 31 August 2026, retail sales in Bluewater were up 7.4% and footfall increased 3.0%, materially ahead of UK national averages of -1.7% and 0% respectively, which highlights the destination’s strong appeal to key brands and underpins its attractive income growth prospects.
