Sovereign wealth fund closing in on Meadowhall deal

NORWAY’S sovereign wealth fund is set to complete the £750m purchase of a 50% stake in the Meadowhall shopping centre in Sheffield, leaving British Land with its 50% ownership.

According to Property Week, and in a deal that could be announced as early as next week, Norges Bank Investment Management, which manages the £376bn sovereign wealth fund, and British Land have agreed terms of a joint venture that will own the 1.4m sq ft mall on a 50:50 basis.

Norges is on the verge of buying the half-share in the centre ... For the full story register now for free or login below...