Partington shopping centre sold
Published: 31 March, 2017
Greater Manchester scheme sells for £2.8m
The Partington Shopping Centre in Greater Manchester has been sold for £2.8m following a deal between Peel Land and Property and Waypoint Asset Management.
Built and completed by Peel Land and Property in 2014, as part of an £8m investment in the wider regeneration of Partington, the 24,448-sq ft shopping centre houses a Tesco Express and Heron Foods. It also features a wide mix of other retailers including Martin McColl, Sayers, ExtraCare, Card Factory, William Hill, The Coffee House and a local fish & chip operator.
Roger Wheeldon, development manager at Peel Land and Property, said: “We’ve worked hard on the development and regeneration of the area, positioning the shopping centre for success, and it’s very rewarding to complete the journey with this sale.”
Nick Gregory of Waypoint Asset Management said: “Our client is looking forward to taking ownership of Partington Shopping Centre and ensuring the scheme continues to grow and be successful. There are asset management opportunities and we are currently seeking interest in the one remaining unit of 7,395 sq ft, which would suit a key operator.”
The redevelopment of the centre is part of a much wider investment project by Peel in the town, including planning consent for an additional 500 new homes in Partington.
Peel were advised by Jon Lovelady of Bradys, Manchester and the purchaser by Prime Retail.