BOSSES of Southampton's WestQuay have sold half the shopping centre to investors from the far east for almost £300m.
The deal makes almost £100m profit for owners Hammerson, which built the centre in a 50-50 joint venture with Barclays bank, before buying the other half for £203m in 2004.
It has now sold the stake to GIC Real Estate, the investment arm of the Singapore government, for £299m - an increase of more than 45 per cent over three years.
It's the second piece of major Southampton infrastructure bought up by Singapore government after it was a key part of the consortium which bought up docks owner ABP in a £3 billion deal last year.
Opened in 2000, WestQuay takes £25m a year in rents from its shops such as department store John Lewis and retail giant Marks and Spencer.
See today's Daily Echo for full story.
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