British Land decided to exercise all the options that it acquired in the original contract to purchase the Meadowhall complex in order to consolidates its ownership and control of the land surrounding Meadowhall. IT now owns 107 acres of land at Meadowhall.
The land is currently used for overflow car parking during peak periods and will continue to be used for this purpose. But British land said it will also be assessing the land's development potential. Under the terms of the deal British Land will also take over sponsorship---worth up to £2.5 million ($4 million)--of the Sheffield Sports Arena project.
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