Malaysian EPF drops bid to buy LDO

The Malaysian Employees Provident Fund’s intention was to buy the entire London Designer Outlet development but Quintain only put up a 50% stake.
  • For a 50% stake bidders will initially pay for half of Quintain’s development costs to date, thought to represent a payment of around £50m, and then a year after completion they will be required to pay half of the scheme’s valuation.
  • The sovereign wealth fund was understood to be keen to buy the entire retail development, whereas Quintain was marketing just a 50% stake.
  • Other bidders understood to have been looking to invest in the 350,000 sq ft London Designer Outlet include Resolution Property and Rockspring.