Aprirose has bought Marine Point in Merseyside from Promenade Estates for £42.5m.
The 212,217 sq ft shopping and leisure complex is located next to New Brighton beach and anchored by a 68,740 sq ft Morrisons and 66-bed Travelodge.
Aprirose chief operating officer Gary Jones said: “Marine Point is our 16th transaction since the Brexit vote and is a strong asset to add to our growing and diverse portfolio. The recently extended complex is a part of a £50m regeneration project for New Brighton and it is a popular family destination. It is another solid investment to add to our growing £1bn property portfolio.”
Danny Hynd, managing director of Promenade Estates, said: “This disposal adds to our existing, substantial cash reserves which we intend to deploy through the acquisition of prime development and asset management opportunities in the Liverpool area. We are assessing a number of interesting opportunities and are always keen to speak with asset owners seeking an exit.”
Aprirose was advised by CBRE; Promenade was advised by Savills.
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