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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Shares were trading 0.27% higher at 733p by 13:45 on Wednesday.
BC
-
Water companies blocked from using customer money to pay “undeserved” bonusesThe regulator has blocked three water companies from using billpayer money to pay £1.5 million in exec bonuses
-
Will the Bitcoin price hit $100,000?With Bitcoin prices trading just below $100,000, we explore whether the cryptocurrency can hit the milestone.
