The Centre and Almondvale West Retail Park has been sold for £224.1 million by Land Securities to HSBC Alternative Investments Limited as part of its Club Deal programme together with Hines acting as asset manager.

The Centre which is located in Livingston is Scotland’s second-largest covered shopping centre and totals more than 1 million sq ft.  It has over 160 retailers and more than 2,500 parking spaces.

The Almondvale West Retail Park is made up of six units totalling 116,000 sq ft. and let to retailers TK Maxx and Matalan.

Managing Director of Retail at Land Securities, Scott Parsons, commented: “The sale of The Centre and Almondvale West Retail Park follows a number of recent transactions demonstrating our clear commitment to reshaping our shopping centre portfolio to focus on dominant regional and Greater London assets.”

Land Securities is currently the UK’s largest listed commercial property company and a member of the FTSE 100.

The company owns and manages more than 25 million sq ft of property, from shopping centres to offices, valued in excess of £13.2 billion.