OWNERS of Bracknell’s The Peel Centre and The Point are getting ready to sell off a number of their properties.

Reports published yesterday indicated LandSec is looking to part ways with around a third of their £12.8 billion portfolio in order to re-invest elsewhere in the property market.

READ MORE: Could new homes be built at The Peel Centre in Bracknell?

Mark Allan, LandSec’s Chief Executive, said 60 per cent of the properties to be sold would be in London.

Bracknell News:

But LandSec’s move to flog its non-core properties could affect The Peel Centre and The Point, with Mr Allan also indicating the company’s retail sites would also be considered in any sell-off.

READ MORE: Morrisons at The Peel Centre in Bracknell to see new changes

A report from The Guardian suggested the firm will sell off its hotel, leisure properties and retail parks, in areas where ‘it believes it has “little or no competitive advantage”’.

This comes as sources told the News The Peel Centre could be redeveloped to become a mixed-use site which includes new housing.

The News understands the updated Bracknell Forest local plan, due to be published in November, will allocate The Peel Centre as a mixed-use development with some retail features being retained.

Bracknell News:

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LandSec, which owns major shopping centres in Leeds and Kent, listed The Peel Centre for sale for £62 million in May 2019, according to a report from egi.co.uk.

The property firm has been “hit hard” by the coronavirus pandemic, reports the Financial Telegraph.

It is claimed the company collected less than two-thirds of the £110m rent it was due by tenants at the latest rent payment date.