InfraRed Capital Partners has bolstered its retail property holdings in Liverpool city centre with another shopping centre acquisition from Land Securities.
InfraRed has exchanged contracts to buy the 170,000 Clayton Square mall for £14m. It has direct access to the pedestrian zone leading to St John’s shopping centre, which the firm bought from LandSec in 2012.
Clayton Square has 34 shops let to tenants including Boots, Clas Ohlson, Body Shop and Vision Express.
InfraRed has appointed the Hark Group as asset manager and Munroe K Asset Management as property manager.
InfraRed re-entered the UK shopping centre market in 2011 with the acquisition of The Galleries in Bristol. Last year, it bought the Castle Mall shopping centre in Norwich from the Mall Fund, as well as St John’s.
Christopher Huxtable, director at InfraRed, said: “The purchase of Clayton Square consolidates our position in Liverpool’s central retail market and adds to our growing portfolio of UK shopping centres. We are pursuing further acquisitions of well-located centres within strong retail markets that require intensive asset management and repositioning”.
Coady Supple advised Land Securities.
annabel.dixon@estatesgazette.com
