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REIT Asset Management Completes Pounds 100-M Blackburn Retail Deal

LONDON-Standard Life Investments has sold the Blackburn Shopping Centre in Blackburn, Lancashire, to Blackburn Centre LP, a Delaware incorporated limited partnership set up by REIT Asset Management, for more than pounds 100 million ($160 million).

By Graham Parker | Updated on August 12, 2003

LONDON-REIT Asset Management has paid Standard Life Investments over £100 million for the Blackburn shopping centre in Blackburn, Lancashire. The purchase was structured through Blackburn Centre LP, a Delaware-registered limited partnership established by REIT Asset Management.

Blackburn Shopping Centre was originally constructed in 1967, and is held on a long leasehold from Blackburn Borough Council for a term of 150 years from 1993. It provides approximately 535,000 sq ft of covered retail accommodation and has recently seen a substantial refurbishment.

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