Aviva Investors has cancelled its proposed purchase of the 350,000 sq ft Fremlin Walk shopping centre in Maidstone, Kent.
The fund manager had been in talks to buy the property from Europa Capital Partners for around £100m – a 6.5% yield.
The sale would have reflected a circa-£30m profit before costs for Europa, which bought the mall from Land Securities for £69m, reflecting a yield of more than 8.5%, a year ago.
Aviva fund manager Chris Paterson said: “Negotiations between the parties failed to reach a conclusion and we have agreed to withdraw from further discussions.”
Strutt & Parker was advising Aviva; DTZ was acting for Europa.
