Crown takes over Cheltenham and M&G buys into Fort Kinnaird
Following the expiry of the Gibralter partnership between the Crown Estate and the Hercules Unit Trust, advised by British Land, the ownership of a number of its sites is being rejigged. The Crown Estate has acquired Gallagher shopping park in Cheltenham in full, buying out the 50 per cent stake held by HUT. At the same time the Crown has sold its 50 per cent stake in Fort Kinnaird in Edinburgh to M&G Real Estate.
Hannah Milne, director of regional at the Crown Estate, said: “We have enjoyed a successful partnership on Fort Kinnaird, working alongside HUT and the British Land team. We are now focused on Gallagher shopping park; a strong scheme in a great location where we have invested alongside our partners over a number of years to help improve the experience for shoppers.”