Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-London & Associated Properties has bought the Church Square Shopping Centre in St Helens, Lancashire for £50 million ($80 million) on behalf of Analytical Properties, its joint venture with Bank of Scotland.

Originally developed in 1972, and refurbished in 1991, the 350,000-sf Church Square forms the dominant part of St Helen’s prime retail core and currently generates net rents of £3.6 million ($5.8 million) per annum. The 82 tenants include Bhs; Boots; Next and River Island. The purchase price reflects a net initial yield of 7.0% with a number of rent reviews due this year.

As a result of this acquisition Analytical now has a £100 million ($160 million) portfolio of large shopping centres. LAP Chief Executive John Heller said: “The acquisition of Church Square is part of our stated strategy to grow Analytical considerably by purchasing substantial shopping centres in strong retailing towns with growth potential and we have already identified a number of asset management initiatives that will enhance the centre’s value.

Analytical was advised by Donaldsons while the vendor was represented by Franc Warwick.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.