One of London's best known retail and entertainment centres, the Trocadero in Piccadilly, has agreed to a GBP210 million (about HK$2.69 billion) deal to sell its freehold interests to Burford Holdings, which already has a 25.1 per cent stake in the company. The deal will give Trocadero a cash surplus of up to GBP73 million from the sale, transforming it from a property, leisure and media business to an earnings-based leisure and media company. Trocadero has been unable to generate significant cashflow surpluses since the introduction of its Segaworld unit, whose performance, the company said, was an 'initial disappointment'. Consequently it had become harder to finance future development of its leisure activities. Burford, principally a property investment group, said it would pay GBP160 million on completion to Trocadero, with the remainder of the purchase deferred over an expected 24 months. 'The proposed acquisition of the Trocadero and London Pavilion Properties represents a rare opportunity to acquire an attractive retail and leisure investment of substantial lot size in London's West End market,' Burford chairman Nigel Wray said.