Investment manager Ellandi is set to buy the 415,000 sq ft Strand Shopping Centre in Bootle for around £27m.
The shopping centre is being bought from Kennedy Wilson, which acquired the Strand alongside eight other regional sites as part of the £250m Britannica Fund in 2013.
Ellandi's plans for the centre are expected to be announced in the coming weeks.
Retailers within the Strand include New Look, Marks & Spencer, Argos, Superdrug, Specsavers and Game.
The Ellandi portfolio includes the Ladysmith Shopping Centre in Ashton-under-Lyne, alongside 11 other regional locations.
Ellandi is advised by Irwin Mitchell.