British Land sells stake in Sheffield’s Meadowhall shopping centre for £360m ...Middle East

The property developer British Land has sold its 50% stake in the Meadowhall shopping centre in Sheffield to Norway’s sovereign wealth fund in a £360m deal, ending its holding in the site after 25 years. Norges Bank Investment Management will take full control of the shopping centre, the largest in Yorkshire. It already owned 50%, having first invested in 2012. Meadowhall opened in 1990 on the site of the former East Hecla steelworks, serving as a symbol of the UK’s shift from heavy industry to a services-based economy. At the time of opening it was the second largest shopping centre in the UK, according to a council history, and was built at a time when demand for shopping destinations a

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