Halladale Group has bought the Market Gate Shopping Centre at Great Yarmouth, Norfolk, for£22.7 million, in a joint venture with the Anglo Irish UK Property Fund.
Market Gate Shopping Centre is the main shopping centre in Great Yarmouth.
It covers 163,000 sq ft (15, 140 sq m) including a 624-space car park.
Its 54 tenants include Boots, Wilkinson, Mothercare, Iceland and New Look.
Halladale will manage the property on behalf of the joint venture. Halladale property director Ken Lindsay said: 'Market Gate offers significant scope for improvement, both in terms of refreshing the building and improving the tenant mix. Great Yarmouth is a busy destination town that deserves a first-rate shopping centre.'
Blair Kirkman acted for Halladale on the acquisition. La Salle Investment Management advised the vendor.