The Maltings in Salisbury changes hands

The Harvest Limited Partnership, a 50:50 joint venture between Land Securities and J Sainsbury has sold The Maltings shopping centre in Salisbury to TIAA Henderson for 24.8 million pounds.

The 92,000 square foot shopping centre comprises of a Sainsbury’s supermarket, 27 additional retail units which are home to retailers such as footwear retailer Riekers, Greggs, Superdrug and Robert Dyas, and a 614 space car park.

Ailish Christian-West, head of shopping centres at Land Securities, said: “The disposal of The Maltings, Salisbury fits our strategy of moving away from supermarkets and secondary assets to focus on our key strategic areas of dominance, experience and convenience where we anticipate the strongest future growth.”

Land Securities is the UK’s largest listed commercial property company and currently owns and manages more than 25 million square foot of property, from shopping centres to offices, valued in excess of 13.2 billion pounds. In recent months the company has been reshaping its portfolio and has sold its stake in Princesshay shopping centre in Exeter, as well as take full control of the Buchanan Galleries in Glasgow.