Aviva Investors and Hammerson have put Queensgate shopping centre in Peterborough, Cambridgeshire, under offer.
Invesco Real Estate is in exclusive talks to buy the 834,800 sq ft Queensgate mall for more than the £200m asking price.
The global real estate investment manager has beat off competition from a raft of bidders to buy the shopping centre from Aviva Investors and Hammerson.
The Hammerson-managed scheme has more than 90 shops let to retailers including Bhs, John Lewis, Marks & Spencer and Primark.
Aviva Investors weighed a sale of its 50% stake in Queensgate earlier in the year but a deal was not concluded. The fund manager and Hammerson then brought the entire mall to the market in September.
CBRE is advising.
All parties declined to comment.
annabel.dixon@estatesgazette.com
