InfraRed Capital Partners, on behalf of its Active Fund III, and asset manager Hark Group have exchanged contracts to buy St Georges Shopping Centre, Preston, Lancashire from Aviva.
St Georges is a 257,653 sq ft shopping centre of masonry construction built circa 1964 and refurbished in 1999. The property is located within the centre of Preston with its primary frontage on the pedestrianised Friargate.
The centre comprises over 280,000 sq ft of retail with more than 100 shops and is accompanied by one of the city's main car parks. Tenants include well-known brands such as M&S, River Island, H&M, New Look, WHSmith, The Body Shop, Poundland and Holland & Barratt.