Land Secs sells Liverpudlian shopping centre

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.

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

Shares were trading 0.27% higher at 733p by 13:45 on Wednesday.

BC