Low rent realisations during the pandemic have hit the Strand hard

Strand to be sold to Ellandi

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.

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UPDATE: Ellandi was advised by the real estate team of Irwin Mitchell

By Ed