PRUPIM is set to buy the Friary mall in Guildford, Surrey, from Hermes Real Estate.
The fund manager is understood to be in discussions to acquire the 150,000 sq ft mall for around £160m – a low 5% yield.
As revealed by Estates Gazette, Hermes began drawing up plans to seek joint venture partners on a trio of malls in July.
Hermes took full ownership of the Castlecourt shopping centre in Belfast, Royal Victoria centre in Tunbridge Wells, Kent, and Friary Mall from partner Westfield in January.
Cushman & Wakefield is advising Hermes. .
Cushman & Wakefield and Hermes declined to comment. PRUPIM was unavailable.
annabel.dixon@estatesgazette.com
