News
Toronto Retail

CPPIB Acquires 50% Stake In Birmingham Mall

Canada Pension Plan Investment Board has formed a 50-50 JV with European developer Hammerson to acquire Grand Central Shopping Centre in Birmingham, the UK's second-largest city. CPPIB’s stake in the deal is valued at £175M. Opened in September 2015, Grand Central has 435k of retail, with 40 premium stores and 20 casual dining brands. The centre sits above the redeveloped New Street Station, creating a gateway in the heart of Birmingham. CPPIB said the JV demonstrates its long-term commitment to the UK, the country's regional markets in particular.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Toronto Newsletters
Related Stories

Philly Retail Momentum Spills From Rittenhouse Into Northern Liberties

Forget Buildings, Retailers Are Leasing Environments

Immigration Crackdowns Dealt LA Businesses A Multimillion‑Dollar Blow

Mamdani Adds Millions To Program Helping Retailers Negotiate With Landlords

How JLL Uses Experiences To Give Retail Customers 'A Reason To Be There'

Culver Commons To Bring New Dining, Retail Options To Bustling Suburban Los Angeles Location

Sony Reopening Hollywood ArcLight, Cinerama Dome Theaters

Cracker Barrel Closes Sale-Leaseback On 26 Stores, Sells 35 Maple Street Biscuit Restaurants

Icahn To Retain Real Estate In $700M Sale Of Pep Boys

Houston's Competitive Retail Market Brings Quick Backfills, In Most Cases

Verizon To Sell 274 Retail Locations, Lay Off 500 Office Workers

Denver Wants To Make It Easier To Open A Restaurant