InfraRed captures Castle Mall

InfraRed has confirmed its acquisition of the Castle Mall shopping centre in Norwich from The Mall Fund for £77.3m - a 7.8% initial yield.

The Castle Mall comprises more than 330,000 sq ft spanning 80 shops. Tenants include TK Maxx, New Look, Boots and Argos as well as an eight-screen Vue cinema.

InfraRed has appointed the Hark Group as asset managers and Munroe K Asset Management as property managers.

InfraRed re-entered the UK shopping centre market in 2011 after five years' absence, acquiring The Galleries in Bristol and the St Johns centre in Liverpool from Land Securities.

Chris