A Merseyside shopping centre has changed hands in a £1.5m deal.
The Manchester office of Watling Real Estate has completed the sale of Cavendish Walk Shopping Centre in Huyton near Liverpool.
It was instructed to begin the sale process in September 2025 and completed a deal for the freehold just before Christmas.
Rugby Property Assets, based in Rugby, Warwickshire, acquired the centre, which currently has 21 retail units, extending to approximately 72,987 sq ft, over two levels.
Ian Whittaker, a director of Watling Real Estate’s agency division, said: “This sale comes at a particularly exciting time as Knowsley MBC, in partnership with Genr8 Kajima Regeneration, look to progress implementing the Huyton Village Centre Masterplan which is set to deliver £200m of investment to the area.
“This will involve the creation of new homes, modern commercial space, a hotel, new village green and employment opportunities across Huyton.”
Knowsley Metropolitan Borough Council has already invested more than £13m into Huyton town centre, giving several retail units a contemporary makeover as part of the Shop Front Improvement Scheme.
Watling previously sold one third of the shopping centre to Knowsley MBC in March 2023, for an undisclosed sum in an off-market deal, as part of the local authority’s commitment to delivering its masterplan vision for the town.
Cavendish Walk Shopping Centre is located in the heart of Huyton town centre, opposite a 147,000 sq ft Asda, and the centre has a good mix of national and local occupiers including B&M, Domino’s and Card Factory.
With a current gross income of £413,000pa, there is potential for the net operating income to exceed £400,000pa when voids, including the former Wilko anchor store, are re-let. It has basement parking for more than 70 vehicles.
The sale was agreed by fixed charge receivers Chris Walker and Andrew Foster.
Law firm Addleshaw Goddard acted for the receivers, while Rugby Property Assets was advised by commercial property agents PK3 and solicitors Broomfields.
