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Talks to buy Liverpool's St John's centre underway

Fund manager Infrared Capital Partners, which was recently spun out of HSBC, and Hark Group are in discussions to buy St John's shopping centre in Liverpool.

The 360,000 sq ft mall is thought to be valued at around £100m.

Land Securities submitted plans for a £100m redevelopment of the shopping centre in 2008. It proposed to add a further 118,400 sq ft of retail and leisure. However, the plans were put on ice in 2009 in response to the deteriorating economic climate and challenging environment.

Talks to buy Liverpool's St John's centre underway

Infrared has been eyeing up a host of investment opportunities recently, including Ocean Terminal in Edinburgh and the Kingfisher Shopping Centre in Redditch.

A Land Securities spokeswoman said: "Land Securities has a plan for every asset in its ownership and sometimes part of that plan may be to consider a sale if it is deemed someone is offering a fair price. We can confirm we are in discussion with a potential purchaser of the St John's centre that may or may not lead to a sale."

Jones Lang LaSalle is advising Land Securities.

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