Universities Superannuation Scheme is in advanced discussions to buy St John’s shopping centre in Perth.
USS is understood to have placed the 249,750 sq ft shopping centre under offer at around £32m.
It has fought off competition from a raft of bidders, thought to include British Land, Rockspring and Metric Property Investments.
As revealed by EGi, BAE Systems Pensions brought St John’s shopping centre to the market for £30m – an 8% yield – in April.
Tenants at the 249,750 sq ft shopping centre include Primark, River Island, Card Factory and Waterstones.
Kitchen LaFrenais Morgan is advising BAE Systems Pensions; Cushman & Wakefield is advising USS.
All parties declined to comment.
annabel.dixon@estatesgazette.com
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