The St John’s Shopping Centre in Liverpool has been sold.
One of Liverpool’s most well-known and well-known shopping malls has been sold.
AnaCap Financial Partners and asset management RivingtonHark have purchased St John’s Shopping Centre.
The transaction’s valuation has not been announced, however property news outlet EG has speculated that the charge may be less than £40 million.
This is much less than the £76.5 million InfraRed paid for the centre from previous owner Land Securities in 2012.
Users of the Mersey Tunnels will notice significant changes as a result of the installation of new video technology.
AnaCap hailed it as a “interesting opportunity” for the company to “demonstrate our capacity to find value in a sector that may have been previously disregarded,” according to a statement.
Over 100 tenants occupy the 540,000 sq ft city centre building, which is 97 percent occupied. The St John’s Beacon, popularly known as the Radio City Tower, is also located here.
“This acquisition is an excellent opportunity for AnaCap to invest in a quality and stabilized retail asset in the UK, proving our ability to identify value in a sector that may have been previously neglected,” said Sebastien Wigdo, managing director at AnaCap.
“We were drawn to the asset because of its high-quality position and solid tenant mix, which includes both local and national merchants, many of whom have demonstrated a long-term commitment to the area during Covid.”
“We are pleased to collaborate with AnaCap and look forward to engaging with our tenants, Liverpool City Council, and the wider community to continue to invest in the asset and create long-term value for all stakeholders,” said Mark Williams, executive director at RivingtonHark.
“We are disappointed to learn of the further inconvenience that would be created in light of NMCN entering administration, after considerable delay in the implementation of the Connectivity Scheme,” Neil Ashcroft, centre manager at St Johns, said on October 8.