The Australian Future Fund is preparing to sell its 33% stake in Birmingham's Bullring shopping centre. The sovereign wealth fund bought its share in September 2009 from Land Securities for £210m. It is now understood to be worth more than £330m, as the scheme's value has risen to around £1bn. Hammerson and Henderson own the two remaining 33% stakes in the mall. It is thought that Hammerson could be interested in buying out the Australian fund, while Henderson, which manages the Future Fund's stake, could also bring in another international client. In October last year London & Stamford Property sold its half-share of Sheffield's Meadowhall shopping centre to the Norwegian sovereign wealth fund for £762m. Intu Properties also wants to sell a 25% stake in its Trafford scheme.
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