Real estate investment trust Land Securities has exchanged contracts to offload a 413,000 square-foot shopping centre in Liverpool.
The St Johns Centre, located in the heart of Liverpool city centre, is to be sold to InfraRed Capital Partners for £76.5m. It is expected to complete in April.
"We have recently completed a number of asset management initiatives at St Johns which have successfully positioned it as a value offer based centre in the heart of Liverpool.The sale will allow us to recycle the capital into other opportunities," said Land Secs' Managing Director of the Retail Portfolio, Richard Akers.
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