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New owners for Sunderland’s The Bridges shopping centre in £152million deal

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THE Bridges has been sold.

Land Securities has exchanged contracts to sell the Sunderland shopping centre to clients of AEW Europe for £152million.

The city centre complex has around 100 shops, including Debenhams, Foot Locker, Superdry and TopShop.

Land Securities bought The Bridges in 1993 and extended the centre in 2000.

Scott Parsons, managing director of retail at Land Securities, said: “Our retail strategy is to move the portfolio towards dominance, experience and convenience. “The Bridges trades well currently but is not part of our strategic focus, and the strong market conditions for retail assets have allowed us to move quickly to crystallise value from the asset.”

 

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