Anglo Irish Bank Private Banking and Alanis Capital, the investment firm run by the family of Dublin financier John McCormack, have acquired the Metquarter shopping centre in Liverpool from a joint venture for a sum believed to be in the region of EUR 120 mln. The 12,600 m[sup]2[/sup] scheme, which opened in March 2006, comprises 44 retail units arranged over lower and upper ground floors, with an additional mezzanine level. The centre is let to 40 retail tenants, with the majority of leases holding a minimum term of 10 years.
Anglo Irish Bank Private Banking and Alanis Capital, the investment firm run by the family of Dublin financier John McCormack, have acquired the Metquarter shopping centre in Liverpool from a joint venture for a sum believed to be in the region of EUR 120 mln. The 12,600 m2 scheme, which opened in March 2006, comprises 44 retail units arranged over lower and upper ground floors, with an additional mezzanine level. The centre is let to 40 retail tenants, with the majority of leases holding a minimum term of 10 years.
Savills advised Anglo Irish Bank Private Banking and Alanis Capital, while Stockford Staunton advised the sellers. Savills has been retained to manage the scheme and obtain future lettings. Mark Garmon-Jones, director at Savills, commented: 'Liverpool's city centre is currently undergoing staggering levels of inward investment and regeneration, and the Metquarter has been one of the main drivers of this transformation. A forecast £780 mln rise in the city's yearly retail expenditure, upon the completion of Liverpool One and the European Capital of Culture status in 2008, makes this an attractive acquisition for our clients.'
