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InfraRed buys second Liverpool mall from LandSecs

InfraRed Capital Partners has bought the Clayton Square shopping centre in Liverpool from Land Securities for £14m.

Clayton Square is located in Liverpool city centre and has direct access to the pedestrian zone leading from St John’s Shopping Centre, which was bought by InfraRed last year from Land Securities for circa £76.5m.

It comprises over 180,000 sq ft of lettable space in 34 shops.

Tenants include Boots, Clas Ohlson, Body Shop and Vision Express. Liverpool ranks as the fifth UK retail market according to retail analysts CACI, with an overall catchment of 5.8m people. The centre has an annual footfall of circa 7m.

InfraRed has been a long-standing investor in UK shopping centres having managed three value added shopping centre funds between 1998 and 2006 and bought and sold over 20 shopping centres in that period.

InfraRed re-entered the UK shopping centre market in 2011 acquiring The Galleries in Bristol. In 2012 InfraRed bought the Castle Mall Shopping Centre in Norwich from the Mall Fund.

Christopher Huxtable, director at InfraRed, said: "The purchase of Clayton Square consolidates our position in Liverpool’s central retail market and adds to our growing portfolio of UK shopping centres. We are pursuing further acquisitions of well-located centres within strong retail markets that require intensive asset management and repositioning."

InfraRed has appointed the Hark Group as asset managers and Munroe K Asset Management as property managers.

Coady Supple advised Land Securities

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