Liberty's UK commercial subsidiary Capital & Counties will manage the asset, and it believes Kings Reach offers the prospect of a substantial reversion in 2002 and thereafter presents a significant opportunity for refurbishment and redevelopment in an area with strong potential for further growth.
The purchase is in line with Liberty International's policy--established since its corporate restructuring earlier this year--of concentrating on major regional shopping centres through Capital Shopping centres and Central London assets through Capital & Counties.
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