St Johns on market with £140m price tag
InfraRed Capital Partners has appointed Cushman & Wakefield to sell the 500,000 sq ft St Johns Shopping Centre in Liverpool for £140m, almost double its 2012 purchase price.
A sale at £140m would represent a net initial yield of around 6%.
InfraRed bought the shopping centre opposite Liverpool Lime Street train station from Land Securities for £76.5m in April 2012. Since the acquisition it has invested £6m in an upgrade of the internal shopping malls, food court, toilets and the Houghton Street entrance.
Alongside the shopping centre, the site for sale is made up of a 625-space car park, the Radio City Tower, a 139-bedroom Holiday Inn hotel and a media wall.
Tenants in the shopping centre include Argos, New Look, Matalan, Wilko and Sainsbury’s.
St Johns Shopping Centre opened in 1969. It is asset managed by The Hark Group.
