Bidder named over Salford shopping centre sale talks

Monaco-based private investor vehicle Praxis Holdings has been named as the bidder in talks with Prime Commercial Properties over buying Salford City shopping centre.

Praxis, which is controlled by Mark Harrison, is considering buying Salford City shopping centre for about £40m, reflecting a net initial yield of 9%.

Savills is acting on behalf of Prime Commercial Properties, while Franc Warwick is advising Praxis.

Meanwhile, an Aviva Investors-owned fund is now believed to be in talks to buy The Mall in Preston. In January, Orchard Street Investment Management had placed it under offer at £85m. Aviva Investors manages The Mall fund.

CB Richard Ellis advises The Mall.

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