CDL and MCL Land to sell retail podium at Piccadilly Grand for $75 mil
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 08 2024
0mins
Source: Yahoo Finance
Piccadilly Galleria Sale: City Developments Ltd and MCL Land are offering Piccadilly Galleria, a 20,140 sq ft retail space, for sale at $75 million as construction continues on the adjacent Piccadilly Grand, expected to be completed in 2H2025.
Investor Interest in Retail Assets: The divestment aligns with CDL's strategy of capital recycling amidst rising investor interest in suburban retail assets, driven by their strong performance and attractive yields, with the expression of interest closing on November 12.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
