Vixcroft, the property firm born out of Arrowcroft, is vying with Edinburgh House for six secondary shopping centres put up for sale by the Glanmore Property Fund.
Vixcroft has been seeking assets since it was set up earlier this year by former employees of Arrowcroft. Other parties understood to be in the frame for the portfolio, dubbed Project Leopard, include Development Securities and Praxis.
The proposed sale is seen as a test of investor appetite for secondary shopping centres.
The Glanmore Property Fund brought the portfolio to market in June for around £80m – a 9.5% yield.
It comprises the 260,000 sq ft Aberafan shopping centre in Port Talbot, the 157,000 sq ft Guildhall Shopping Centre in Stafford, the 120,000 sq ft Loreburne Shopping Centre in Dumfries, the 120,000 sq ft Quadrant Centre in Dunstable, the 150,000 sq ft Swan Centre in Kidderminster, and the 140,000 sq ft Fleet Walk in Torquay.
It comes after the fund sold £80m of mainly office and industrial secondary regional properties to Kennedy Wilson last December.
CBRE is advising.
annabel.dixon@estatesgazette.com
