Shopping centre owner to sell £300m retail park

Capital & Regional, one of Britain’s biggest owners of shopping centres, is preparing to sell its portfolio of retail parks for more than £300m.

Capital & Regional, along with its partners, Aviva Investors and Area Property Partners, is planning to sell The Junction, a fund that holds out-of-town shopping parks in places such as Bristol and Essex. City sources said Cushman & Wakefield, the property adviser, and Morgan Stanley, the investment bank, had been lined up to handle the sale.

A final decision is expected later this year.

Capital & Regional is a specialist property company with a track record of developing asset management opportunities in retail and other related sectors of the property market.