Capital Shopping Centres and PRUPIM are adding to their landholdings in Bristol with the acquisition of a 50,000 sq ft site next to Cribbs Causeway.
The pair, which owns the 780,000 sq ft Cribbs Causeway mall and nearby 245,000 sq ft retail park, is in talks with Aviva Investors to buy the former Best Buy and Halfords stores at Centaurus retail park for around £24m – a 6% yield.
The two stores sit next to Cribbs Causeway.
Best Buy announced plans to quit the UK last year. Most of its stores have since been taken over by Morrisons for its Kiddicare brand.
Aviva had been trying to sell its 81,800 sq ft Centaurus park, which is divided into two parts, as a whole for £70m – a circa 5.5% yield – since last autumn.
Edgerley Simpson Howe is acting for Aviva; Cushman & Wakefield is advising CSC/PRUPIM.
All parties declined to comment.
annabel.dixon@estatesgazette.com
