Local Shopping REIT has agreed to forward fund a £7.2m shopping centre development in Merseyside.
LSR, acting on behalf of its joint venture with Pramerica – Local Parade Investments – has agreed to fund the 45,000 sq ft Halewood Shopping Centre in the Knowsley district of Merseyside.
The scheme, which be home to a number of stores including Aldi and Tesco, is being developed by Liverpool-based Neptune Developments. Work started on site earlier this month..
Nick Gregory, joint chief executive of LSR, said: “This acquisition represents the single largest purchase for our new Local Parade Investments joint venture, and we look forward to working closely with Neptune to deliver this neighbourhood centre which has attracted a very strong tenant line up.”
Mason Owen acted for Neptune; Mason & Partners acted for Local Parade Investments.
