AG Retail adds to portfolio with Middleton Shopping Centre buy

The retail arm of Blackburn-based Adhan Group has swooped for the 325,000 sq ft Greater Manchester asset, put on the market in May for £8.5m.

The sale price was undisclosed. Knight Frank hoisted the ‘for sale’ sign over the centre in mid-May, acting on behalf of a joint venture between Westrock and Silver Point, its owners for 12 years.

As reported by Place, Middleton SC, the JV, acquired the 87-unit scheme out of administration for £13.45m in 2014, according to Land Registry.

The Rochdale town’s retail complex is around 93% let to tenants including B&M, Home Bargains, and Club 3000 Bingo. The bingo hall accounts for more than a quarter of overall revenue; its lease was recently extended to 2042.

Overall, Middleton Shopping Centre generates gross revenue of £2.3m a year.

IM Group Services, asset manager for AG Retail, is now on site getting to work with a busy programme, with a set of fit-outs, upcoming openings and lease renewals to get through.

Convenience retailer Boyes is currently fitting out the former Wilko unit, and hopes to open in six to eight weeks’ time, trading from both floors. B&M is looking at a second space, while fish and chip operator Mother Hubbard is fitting out close to the bus station. That food-focused area will also have a waffle café opening in a former butcher’s shop.

A spokesperson for the buyer told Place: “This is an asset that we’ve been pursuing for three or four years, and we’re pleased to add it to the portfolio. It’s a strongly performing centre, very much the hub of Middleton, and we have every intention of improving it further.”

Barker Proudlove is retained letting agent for the centre.

Adhan Group as a whole has been highly active in recent years, and the retail business has been a big part of that. In 2025, the business bought Carlisle’s The Lanes, adding it to acquisitions including Warrington’s Golden Square, Blackburn’s The Mall and Rochdale’s Exchange.