Land Securities has exchanged contracts to sell the 413,000 sq ft St Johns Centre to InfraRed Capital Partners for £76.5m in a deal that is expected to complete in April.
Richard Akers, managing director of the retail portfolio at Land Securities, said: "We have recently completed a number of asset management initiatives at St Johns which have successfully positioned it as a value offer based centre in the heart of Liverpool. The sale will allow us to recycle the capital into other opportunities."
St Johns has 88 tenants, including independent station Radio City in the landmark St Johns Beacon tower above the centre. St Johns opened in 1969 and is still the city's biggest covered shopping centre in Liverpool and home to the largest undercover food court in the city.
Jones Lang LaSalle acted for Land Securities.