Land Secs offloads Liverpool mall for EUR 92m

UK REIT Land Securities confirmed on Wednesday that it has agreed to sell the 413,000 sq ft (39,000 m2) St Johns Centre in Liverpool to InfraRed Capital Partners, the London-based asset manager created by the spin-off of HSBC Specialist Investments. The deal, which is expected to complete in April, amounts to £76.5 mln (EUR 92 mln).

Commenting on the sale, Richard Akers, managing director Retail Portfolio said: '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.'

The scheme provides over 100 stores, a market, 2 theatres and a 625 space car park. Jones Lang LaSalle acted for Land Securities.