Schroders is selling the Met Quarter shopping centre in Liverpool out of its Columbus UK Real Estate Fund for £20m – a 7.2% yield. The fund comes to the end of its life next year.
Met Quarter, once the prime shopping centre in Liverpool, has 44 shops let to tenants including Hugo Boss, Armani Exchange, Jo Malone and MAC.
Ten units are vacant and there is the potential for a 35,000 sq ft anchor store. The fund bought the mall from Nama in January 2014 for £21m – an 8.5% yield. In 2007 it was valued at £87m. Coady Supple is advising Schroders.
