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LONDON-Liberty International has paid £204 million ($318 million) to wind up the Baffin limited partnership, a consortium of 12 investors that owned an 80% in the 956,000-sf Victoria shopping centre in Nottingham.

Liberty’s shopping centre subsidiary Capital Shopping Centres already owned the other 20% interest in the centre and managed the scheme, one of the ten largest malls in the UK. The Victoria Centre was opened in 1972. It is anchored by John Lewis and House of Fraser department stores with 117 shop units and 2,700 car spaces. The centre produced a net annual rental income of £15.8 million in the year to 31 December 2001.

Liberty Chairman Donald Gordon said: “The centre has a proven successful track record, attracting some 23 million customer visits per annum. The arrangements are entirely in accordance with our strategy of focussing on dominant regional shopping centre locations in the United Kingdom.”

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