Shopping centre owner Hammerson has sold Gloucester’s St Oswald retail park to the local authority for £54m, as it continues with its disposal programme.
The 225,000 sq ft centre is home to retailers including Mothercare and Argos.
Hammerson has disposed of £577m worth of property so far this year, exceeding its minimum disposal target.
It has sold a major stake in Paris’s Italie Deux shopping centre, as well as other retail parks.
Hammerson CEO David Atkins said: “Despite a challenging investment market, we are successfully executing disposals in line with our priority to reduce debt and strengthen our balance sheet.
“These transactions also give us the flexibility to capitalise on the opportunities we see in the market, particularly with regards to our ’City Quarters’ pipeline, which is core to the future direction and success of our business.”