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Strewth! Birmingham's Bullring could be sold to the Aussies!

publication date: Sep 4, 2009
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Bullring BirminghhamLand Securities, the largest property firm in the UK, is said to be planning to sell its stake in the Bullring shopping centre to Future Fund, an Australian sovereign wealth fund.

Land Securities has selling considerable chunks of its portfolio; some £500 million has been raised since March this year. The exact value placed on its one third stake in the Bullring (owned by the Birmingham Alliance, a joint venture between Land Securities, Hammerson and Henderson Global Investors) has not been disclosed but Hammerson recently valued its share at £210 million.