Lend Lease sells Bluewater stake

Property group expects $480m profit from sale that will be used to pay down debt, updates FY guidance.

Lend Lease has sold its interest in the UK's Bluewater Shopping Centre in a transaction expected to boost the property group's full-year profit.

Lend Lease has offloaded its interest in Bluewater to Land Securities Group for £656 million, and its management rights and sundry land interests for £40 million.

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