Retail property - The Ridings and Kirkgate sold to Prime for £88m

Resolution Holdings has sold The Ridings Shopping Centre and the Kirkgate Centre at Wakefield, West Yorkshire to Prime Commercial Properties for£88 million.

Resolution Holdings bought the two adjoining shopping centres 18 months ago from Capital Shopping Centres and Universities Superannuation Scheme for a combined£69 million.

It merged the two interests to create a 208,000 sq ft (19,000 sq m) retail destination, anchored by Morrisons, Marks & Spencer, Bhs, Boots and Arcadia.

Lovells advised the vendor, while Manches represented the purchaser.