Commercial property giant Land Securities has increased its ownership of Bluewater after acquiring a stake in another of the shopping centre’s owners.

The FTSE 100 firm has bought a 1.6% share of Lend Lease Retail Partnership (LLRP) for £12.8m, which itself has a 25% stake in the mall near Greenhithe.

The acquisition increases Land Securities’ ownership of the shopping centre by 0.4%.

In June, the company spent £656m on buying a 30% stake of Bluewater from LLRP – a fund which invests in the UK retail sector.

The deal also saw Land Securities acquire the full asset management rights for the centre and 110 acres of surrounding land for £40m.

In addition to its 25% stake in the Bluewater shopping centre, LLRP also owns 100% of Touchwood shopping centre in Solihull.