Shrewsbury’s three main shopping centres have finally been bought for £61 million, it was revealed today.

The Darwin, Pride Hill and Riverside malls have been bought by the UK Commercial Property Trust, managed by Ignis Asset Management.

The 470,000 sq ft centres were put on the market in September last year, but have now been purchased for just over half of the £118 million paid for them four years ago.

Protego Real Estate Investors’ UK Actively Managed Shopping Centre Fund lost the centres last year when debt managers Hatfield Philips were called in as a special servicer to an £82 million loan secured against the centres.

It followed the collapse of American bank Lehman Brothers in 2008. The three linked shopping centres were bought by Protego for £118 million in 2006 in a deal involving Lehman.

UK Commercial Property Trust, managed by Ignis Asset Management, became the front-runner to buy the centres in November and has been working with She-arer Property Group which will act as asset manager.

A spokesman for Shearer Property Group said: “We have exchanged contracts but it’s a conditional exchange and is not due for completion until the end of the month.”

Nick Pitt, manager of the centres, said he was aware of the purchase but could not comment further until the deal has been finalised.

The purchase of the centre may provide renewed hopes of linking the Darwin and Pride Hill centres by developing the “gap” site in Raven Meadows.

The land is owned by Morris Property and the firm has planning permission to develop the site as a four- storey mini-shopping centre. The scheme was put on hold last year because of the economic climate.

A public car park has been created on the site on a temporary basis “until market conditions recover”.

In 2008 it was claimed equipment needed for the work was being used at a site for the London Olympics which was making it difficult to progress the scheme.

However, Morris Property said this was not the case and it was hoping to start work on the site. But problems in the economy meant it went on the back burner.

By Russell Roberts