The Galleries shopping centre in Bristol has changed hands at a sharp discount to its previous sale price — underlining the difficulties faced by retail landlords.
The fund manager LaSalle Investment Management is to buy the centre for £32m from current owner InfraRed Capital, said to have paid £50m eight years ago for its redevelopment potential.
The Galleries has been eclipsed by Cabot Circus, a more upmarket shopping centre that opened in central Bristol in 2008.
