The Pyramids Shopping Centre is the premier indoor shopping centresceme in Birkenhead. The two-storey mal,l developed in 1989, comprises 143,000 sf of retail space with a 750 space multi storey car park It is anchored by Next; River Island and Etam with Marks & Spencer next door. The net rental income is £3.112million ($5.2 million) per annum representing a net initial yield of 6.92% on the purchase price. This is expected to rise to 7.31% by December 2004 on completion of rentreviews.

Richard Moore, Property Director at Warner Estate said: "The Pyramids Shopping Centreis our seventh major shopping centre for Agora in the North West and we now own and manage shopping centres in Birkenhead,Bolton, Ellesmere Port, Liverpool, Middleton, Preston and Sale. Our North Westshopping centre portfolio has achieved significant scale and we believe that allof these properties have exciting potential for the growth of both rental incomeand capital value."