Aviva Investors Property Trust acquires Preston Shopping Centre (UK)

Aviva Investors Property Trust (APIT) has acquired the St Georges Shopping Centre, Fishergate, Preston, from the Mall Fund for just under £90 million (approx. €99.2 mln.) reflecting a yield of around 7.75%. St Georges Shopping Centre has a mix of around 100 independent and high street retailers including Marks & Spencer, Burtons / Dorothy Perkins, New Look, Peacocks and H&M.


Aviva acquired the St Georges Shopping Centre for approximately €99.2 million.

International law firm Pinsent Masons and property consultants Lunson Mitchenall advised APIT. Pinsent Masons partner Richard Daffern who led the legal team said: "This is a great acquisition for the fund as this is the prime scheme in Preston, a UK top 40 City. The transaction was completed in less than a month."

Investment agent Guy Harrison of Lunson Mitchenall said: "The scheme is well let and provides strong income flow. It will also benefit from asset management initiatives that can enhance performance for the purchaser."

CBRE advised The Mall.

Source: Brown Lloyd James Financial

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