Adhan completes 712,000 sq ft Warrington shopping centre deal 

The council has confirmed that the investor has finalised its acquisition of Golden Square Shopping Centre, taking over the 250-year leasehold from the Alaskan State Pension Fund. 

A report to Warrington Council’s scrutiny committee this week confirmed the asset is now out of receivership and “in position to receive strategic investment from the new owners, with whom the council has established a good early relationship.” 

Adhan Group’s acquisition of the 712,000 sq ft town centre asset sees the company add to its growing portfolio of shopping centres. 

The company also owns the leasehold of The Mall in Blackburn, which it bought for £40m earlier this year. Adhan also owns the freehold of the 270,000 sq ft St George’s in Preston, which it acquired out of administration in 2021. 

Golden Square Shopping Centre, which has more than 130 stores, would be the largest retail asset in Adhan’s portfolio. 

LaSalle acquired Golden Square on behalf of the Alaskan State Pension Fund for £141m in 2014.  

Last year, the previous leaseholders Alaska UK Trustee and Alaska UK Nominees went into receivership. Since then, Golden Square has been managed by Savills.  

Warrington Council owns the freehold and receives around 13% of the centre’s net rental income, according to a report to the authority’s cabinet last year.  

Golden Square Shopping Centre opened in the 1970s and was extended in the early 2000s. Former anchor tenant Debenhams closed its 115,000 sq ft outlet in 2021.  

Adhan Group was contacted for comment.