Landsec is reportedly in talks with Lendlease about the acquisition of a 25% stake in the Bluewater Shopping Centre in Kent in a £200m deal.
According to Property Week, a deal would see Landsec take majority control of the Dartford shopping mall, lifting its stake to 55%. It cited sources as saying that the two parties are close to agreeing a deal.
Property Week said Landsec is considering increasing its stake further and potentially looking at full ownership of Bluewater if remaining shareholders agree to sell.
Landsec bought a 30% interest in Bluewater from Lendlease in 2014 for £656m.
At 1445 GMT, the shares were up 1.8% at 753.60p.
