Clayton Square, Liverpool

In partnership with InfraRed Capital Partners, we acquired the asset in an off-market transaction from Land Sec in 2014 for £10.4m.

The scheme comprised 140,000 sq ft, car parking and 40 stores. Developed by MAB base don Holland, it was their first project in the UK.

The asset was a failing 2 level 170,000 sq ft shopping centre with 22% vacancy and imminent lease expiries on most income. We had identified and prepared a turnaround strategy before bidding.

Following the purchase, we worked with core occupiers to create:

  • A new flagship store for Boots – (their largest floorplate in the world)
  • New gym and leisure use
  • Service charge halved, income up, WAULT up
  • Bought for £13.4m; sold 2.5yrs later for £38.5m. Circa 40% ungeared IRR achieved


To convert a failing 2 level shopping centre into a successful mixed-use asset, and thereby achieving a value-add return.


Successfully reconfigured and re-let the asset, winning BCSC Gold Award, then selling the asset achieving a 40% ungeared IRR.

Project Details

Services provided
Asset Management | Development Management

Mix of Uses



Car park


Food & Beverage