Olswang has advised long-standing client InfraRed Capital Partners on the £38.4 million sale of Liverpool’s Clayton Square Shopping Centre to Rockspring’s UK Value 2 Fund. Located in central Liverpool, between Liverpool Lime Street and Liverpool Central Station, Clayton Square is 140,193 square feet with 17 retail units.

Previously an underperforming retail centre, the property has recently undergone an extensive refurbishment by InfraRed, including the conversion of a redundant ground-floor mall into retail units and the removal or conversion to other uses of unlettable first-floor retail accommodation. It is currently 95% let to national retailers, including tenants such as Boots, Vision Express, Maplin, Clas Ohlson, Peacocks, Wildwood, Costa and easyGym.

Olswang Real Estate Partner Martyn Needham commented: “It was a pleasure to again advise InfraRed. This sale caps off a tremendous amount of work that InfraRed has put in to the property, and we were glad to have advised them along the way.”

Partner Martyn Needham led the team that included Real Estate Associate Emily Flaxman, Construction Associate Louise Forbes and Legal Assistant Sue Fitzharris.