Land Securities Group plc (LSE:LAND) acquired a 75% stake in MediaCity in Salford from Peel L&P Holdings (UK) Limited and Legal & General Capital for approximately £430 million on November 3, 2021. The transaction includes £293.6 million of debt, reducing Landsec's equity investment to £207.6 million which is satisfied in cash drawn from existing facilities. Landsec will also have an obligation to pay a further amount capped at £15 million linked to building remediation works which will be completed post-transaction. Addleshaw Goddard LLP represented Peel L&P Holdings (UK) Limited and Legal & General Capital in the transaction. Jan Crosby has joined Savills Capital Advisors (SCA) as Head of Corporate Finance and acted as real estate agent to Land Securities Group plc (LSE:LAND).

Land Securities Group plc (LSE:LAND) completed the acquisition of a 75% stake in MediaCity in Salford from Peel L&P Holdings (UK) Limited and Legal & General Capital on November 3, 2021.