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Forth Ports centre sold

FORTH Ports has sold the Ocean Terminal shopping centre to Resolution Property for an undisclosed sum.

The Edinburgh site had been on the market, reportedly with a price tag of about £100 million, since the middle of last year following the £746m takeover of Forth Ports by Arcus Infrastructure Partners.

Resolution's funding was provided by Lloyds Banking Group, which sold its 50% stake in the centre to Forth Ports for £2m in 2009.