Bayside Capital is under offer to buy the Grosvenor shopping centre in Chester, Cheshire, from Carlyle Group and Bride Hall.
The private equity firm, owned by Miami-based HIG Capital, will pay £65m – a 6.5% yield – for the 232,000 sq ft mall, which has 74 shops and a 413-space car park.
It was bought by Carlyle and Bride Hall in 2008 as part of a £286m portfolio with the Ashley centre in Epsom, Surrey, and the Broadwalk centre in Edgware, north-west London, from Capital & Regional’s Mall Fund.
Strutt & Parker and Cushman & Wakefield advised the vendors.
