British Land buys Drake Circus

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The Independent Online

British Land has bought the Drake Circus shopping centre in Plymouth, above, for £240m from David Ross's Kandahar Real Estate. The 425,000-square-foot shopping centre was the largest asset in the Kandahar property group runby Carphone Warehouse'sco-founder David Ross.

Located in the middle of Plymouth, the shopping centre has a catchment area covering Devon and Cornwall and an annual footfall of nearly 19 million people. It is anchored by tenants including Primark, Marks & Spencer and Next.