Meadowhall sell-off confirmed - commercial mortgages

25 April 2007

Plans to sell-off up to 75 per cent of Meadowhall shopping centre in Sheffield have been outlined by owner British Land, as the group seeks to raise funds for future projects.

British Land is looking to sell commercial property space to a number of buyers in chunks of ten per cent, aiming to retain overall control of Meadowhall, which is worth some £1.7 billion overall.

Bosses hope to attract buyers looking for prime retail space in Sheffield, such as those willing to take out commercial mortgages.

The Times reports that between 50 and 75 per cent of the Meadowhall''s equity will be sold in batches of ten per cent. The site is home to 270 separate shops, offering range of options for buyers interested in new premises in Sheffield.

Meadowhall centre director Mohammed Dajani has stated that existing jobs will be unaffected and local customers will see no great change in services, according to the BBC.