American firms buy shopping centre

Houndshill Shopping Centre, Blackpool

Houndshill Shopping Centre, Blackpool

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Blackpool’s Houndshill Shopping Centre has been bought by one of the world’s biggest investment companies.

Venture capital firms Blackstone and Catalyst Capital joined forces to rescue the centre from previous owners Modus Corovest, in administration for the past two years.

The 300,000sq ft shopping centre was bought after the two venture capitalist partners saw the amount of investment going into the resort.

Blackstone, based in America, has already invested in the resort through its shareholdings in Merlin Entertainment and the Hilton Hotel chain.

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