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Last Updated: Tuesday, 24 April 2007, 12:25 GMT 13:25 UK
Meadowhall owner in sell-off plan
The owners of Sheffield's Meadowhall shopping centre are to sell off up to 75% of the 1.7bn property.

British Land, which currently owns 100% of the site, wants to raise cash to invest in other development projects.

The group plans to remain the largest individual investor and act as manager for the 1.5m sq ft centre near the M1, which houses 270 shops.

Meadowhall centre director Mohammed Dajani stressed that the sell-off would not affect customers or staff jobs.

Between 50% and 75% of the equity in Meadowhall would be sold off in chunks to ensure British Land remained the majority owner.

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