£36m deal to unlock regeneration scheme

A SITE in Kirkby, Merseyside, once ear-marked as the new home for Everton Football Club, is set to be bought by developer St Modwen for £35.8m.

St Modwen has exchanged contracts to buy Kirkby Town Centre from supermarket group Tesco, and says its purchase will unlock a "multi-million pound" retail-led regeneration of the town, in partnership with Knowsley Council.

The deal, due to complete in the coming weeks, represents as net inital yield of 9% on the main shopping centre. Kirby Town Centre comprises 400,00... For the full story register now for free or login below...