
{"id":62250,"date":"2024-04-22T15:32:41","date_gmt":"2024-04-22T14:32:41","guid":{"rendered":"https:\/\/sheffieldwire.co.uk\/?p=62250"},"modified":"2024-04-22T16:20:54","modified_gmt":"2024-04-22T15:20:54","slug":"meadowhall-worlds-largest-wealth-fund-set-to-take-control-of-750m-mega-mall","status":"publish","type":"post","link":"https:\/\/sheffieldwire.co.uk\/index.php\/2024\/04\/22\/meadowhall-worlds-largest-wealth-fund-set-to-take-control-of-750m-mega-mall\/","title":{"rendered":"Meadowhall: World&#8217;s largest wealth fund set to take control of \u00a3750m mega-mall"},"content":{"rendered":"\n<p><strong>The largest sovereign wealth fund in the world is acquiring Meadowhall shopping mall in a transaction that values the facility at \u00a3725 million.<\/strong><\/p>\n\n\n\n<p>Norway&#8217;s national wealth fund will run Meadowhall, an indoor retail mall in Sheffield, currently ranked among the top five shopping destinations in the United Kingdom.<\/p>\n\n\n\n<p>Negotiations are well advanced for Norges, Norway&#8217;s \u00a31.3 trillion sovereign wealth fund, to purchase British Land&#8217;s 50% stake in Meadowhall for about \u00a3363 million, including debt.<\/p>\n\n\n\n<p>The retail district welcomes over 24 million tourists every year and hosts over 250 stores, including Apple, Zara, Hugo Boss, and Flannels.<\/p>\n\n\n\n<p>The deal would bring the massive Sheffield mall&#8217;s value to \u00a3725 million, said Norges Bank Investment Management.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.nbim.no\/en\/the-fund\/news-list\/2012\/fund-buys-50-percent-of-meadowhall-shopping-centre-in-the-uk-\/\">In 2012<\/a>, Karsten Kallevig, Chief Investment Officer for NBIM said: &#8220;The purchase gives us exposure to one of the largest and most dominant shopping centres in the UK.&#8221;<\/p>\n\n\n\n<p>According to The Times, British Land, the owner of mixed-use commercial buildings close to London&#8217;s Paddington and Liverpool Street stations, intends to invest \u00a3150 million of the Meadowhall sale&#8217;s proceeds in retail parks.<\/p>\n\n\n\n<p>Norges has substantial property assets in the West End of London, notably a twenty-five percent interest in The Crown Estate&#8217;s extensive portfolio on Regent Street and a twenty-five percent investment in Shaftesbury Capital, the company that owns Covent Garden.<\/p>\n\n\n\n<p>The sovereign wealth fund and British Land also share ownership of the West One shopping centre, which is close to Bond Street station.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The largest sovereign wealth fund in the world is acquiring Meadowhall shopping mall in a transaction that values the facility at \u00a3725 million.<\/p>\n","protected":false},"author":168,"featured_media":58657,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[6],"tags":[359,9,338],"class_list":["post-62250","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-meadowhall","tag-sheffield","tag-south-yorkshire"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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