Property and construction giant Lend Lease is set to bag a significant windfall gain after the group announced the sale of one of its major shopping centres in the United Kingdom.

In a statement to the Australian Stock Exchange, the company said it will book an after tax net gain of $A480 million after entering into a $A1.221 billion agreement to sell its interest in the Bluewater Shopping Centre in Kent and sundry land rights interests associated with the centre to…