InfraRed Capital Partners, on behalf of its Active Fund III, has exchanged contracts to buy the St George’s shopping centre in Preston, Lancashire, from Aviva.
The price paid for the centre is understood to be around £73m.
Tenants at the 280,000 sq ft centre include Marks & Spencer, River Island and H&M.
Infrared head of European Real Estate Chris Huxtable said: “We are delighted to be adding St Georges to our portfolio, the seventh centre we have acquired since re-entering the shopping centre market in 2011 and the third for our Active Fund III.”
InfraRed has appointed the Hark Group as asset manager and Munroe K Asset Management as property manager. Barker Proudlove and Cushman & Wakefield acted for InfraRed. Lunson Mitchenall advised Aviva.
