Derwent Holdings said it intends to start work on the retail warehouse redevelopment at its Ellesmere Centre in Walkden before the end of this year.
The 12 new retail warehouse units, with consent for food retail, will mark the third phase of the redevelopment of the centre. The construction contract is currently out to tender. The project is designed by AEW Architects.
No pre-lets have been agreed to date although advanced discussions are ongoing with prospective tenants. Some of the current retail park tenants are expected to move into the main centre.
Meanwhile, GVA has been appointed sole letting agent by Derwent Holdings on the existing parts of the 450,000 sq ft centre. GVA replaced Mason Owen and Taylor & Co.
David Lyons, managing director of Derwent Holdings, said: "The Ellesmere Centre represents a major investment in the Walkden area and we are pleased to welcome GVA as property advisors to market this recently completed phase of the development. GVA's knowledge of the area and expertise in the marketplace will no doubt help to further strengthen Ellesmere Centre's position as a shopping and leisure destination for Greater Manchester and we look forward to welcoming new occupiers to the centre.
"Phase 3 of the scheme, where the joint agents are GVA and Taylor & Co, will comprise a retail park with Open A1 planning consent and is already attracting interest from retailers in advance of construction."
The centre is anchored by Tesco Extra alongside Costa Coffee, JD Sports, Greggs, Quality Save, Subway, McDonalds, KFC, and Boots.
Sammy Jones, associate at GVA, said: "The retail team at GVA is excited to be involved in an exciting development for North Manchester, which will help to increase investment and attract other household brands to the area. Derwent Holdings is renowned for its strong track record in the retail market, and we're already working closely to realise the ambition Derwent has for Ellesmere."
Derwent Holdings was founded by Kwik Save tycoon Albert Gubay and is now controlled by the Albert Gubay Charitable Foundation. The company owns White City Retail Park, Manchester, Alban Retail Park at Warrington, Bidston Moss Retail Park at Wallasey, Anlaby Retail Park in Hull, and is currently completing development of the Kilner Way Retail Park in Sheffield.