Intu Trafford Centre Barton Square 4
The 2.2m sq ft shopping mall was built by Peel Group and opened in 1998

Agents appointed to sell Trafford Centre

Sarah Townsend

Administrators for the Greater Manchester shopping centre’s parent Intu Properties have selected CBRE to market the asset for sale for an undisclosed asking price.

Intu’s administrators at professional services firm KPMG also appointed PJT Partners as mergers and acquisitions advisor for the Trafford Centre sale process, which is expected to generate substantial levels of investor interest in the UK and globally.

CBRE and PJT Partners will work closely with the directors of the special purpose vehicle that owns and manages the Trafford Centre, as well as the property’s lenders and administrators, to maximise value for the asset.

Intu last valued the mall publicly at close to £1.7bn, but analysts reportedly expect it to be sold for a sum at least 20% less than this given the current uncertain retail climate – even though assets of the centre’s lot size do not come to the market often.

A spokesperson for KPMG said: “All parties are working constructively together to maximise value for this highly attractive asset.”

The 2.2m sq ft shopping mall in Trafford was built in the late 1990s by regional landowner the Peel Group and opened to the public in 1998.

In 2011, Peel sold the Trafford Centre to Capital Shopping Centres, which later rebranded as Intu Properties, for £1.6bn – one of the largest real estate acquisitions in British history and the biggest European property deal of that year.

The group retained a 24.6% stake in Intu, which collapsed into administration on 26 June this year after failing to strike a deal with lenders to pay down an estimated £4.5bn in debt.

However, the Trafford Centre has continued to operate throughout the administration process, as it is owned as an independent SPV in the same way as Intu’s other 16 shopping centres across the UK.

Peel has been rumoured to be interested in buying back the property but has so far declined to comment on any potential acquisition. The group is soon to be moving out of its longstanding headquarters within the Trafford Centre, Place North West revealed earlier this month.

PJT had been advising – before Intu’s administration – the Trafford Centre’s largest lender, Canadian pension fund CPP Investments, which in 2017 provided £250m of debt financing towards Intu Properties secured against the mall, with a maturity date of 2022.

 

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Best place to shop in the NW, followed by Cheshire Oaks

By Dan

Not quite the same feeling as being in the open air of Liverpool ONE, with an elevated view of the historic Royal Albert Dock and a mighty tidal river. Spaciously planned, and with a feeling of splendour.

By Liverpool romance

Lol, Dan’s back. Loves a soul-less shopping environment does Dan, as long as he can park up right outside

By Anonymous

Liverpool is for me especially Liverpool One

By Anonymous

It’s a tacky dump of a design. Reminds me of some vile fake Romanesque Disneyfied shopping mall you’d find in a themepark in the U.S

By Steve

Free car parking won`t suit the priggish anti-car brigade.

By Anonymous

These will be great flats

By Resi Ready

Could be mistaken for being in Bury’s The Rock at Liverpool One.

By Anon

@anon that’s because I’m normal, I prefer spaces to be clean and away from drunken riff raff, You need took up soulless.

By Dan

@anonymous .. to be fair Liverpool one is looking very weather worn and smells of sewage in the summer. Paradise street where it meets Lord street is not paradise to those with a strong sense of smell.

The Trafford centre is visited by people from far and wide, and the only complaint is that it gets too busy sometimes.

By Anonymous

Steve – it was built with a nod to the Great Arts Exhibition which was held in Old Trafford. At least it’s not just a generic box and has had some thought.

By Loganberry

Trafford centre tacky and inaccessible to many …much prefer Liverpool 1 and Manchester City centre real places …variety and pleasant to walk around

By William

Trafford Center will off course continue to thrive with the all of the investment the likes of Peel are putting into the whole area. Got to say I was disappointed in Liverpool one after visiting. I don’t know what I was expecting but the whole thing was a great anti climax.

By John

Wonder which of Peel holdings 200+ sub companies will bid for this one

By Jon P

Liverpool is the best place to shop in the North of England

By Anonymous

L/pool is very limited when it comes to shopping. That’s why you hear so many L/pool accents in the Trafford centre. L/pool has got its strengths, but shopping isn’t one of them.
The Trafford centre will be there for many years to come, and for those who don’t like it, there are more that do.

By Altrincham fellow

Comparing a shopping mall like the TC to a city centre embedded shopping zone like L1 isn’t like-for-like.

They offer their own unique retail experiences and you go to each one to suit what you want.

Slagging one off against the other is a bit weird.

By North by North-West

Liverpool is a whole day out, not just shopping, that’s what I like!

By Red Squirrel

Swore I’d never go to the traff Centre when it first opened. Now I’m there at least once a week. I used to prefer the city centre, still do in many ways but now that all of the cheap little car parks have been built on and I don’t work in the city anymore I don’t go as often but that’s the price you pay for progress.

By Nve

The Trafford centre will be here in 20 years time. I know it’s all mostly online shopping now, but at the Trafford centre there is so much to do, first you have FREE PARKING for over 11,500 cars, (no pestering traffic wardens or no paying car park machines robbing you). At the Trafford centre there is lots of shops, about 50 bars and restaurants, a 20 screen cinema, family entertainment with paradise Island golf, laser quest, arcades, bowling alley etc etc.. it gets over 30 million citizens a year, because it’s got transport links with the motorway, buses and a new tram directly to it. We all know a few shops have shut down this year, but its still getting millions and millions and millions in rent to the owners every year. Who ever gets the Trafford centre, might be the PEEL LOT, who will want it really cheap as always, will have to fork out around a billion quid. Also the Trafford centre is growing every year.

By Born bred in Salford.. Darren.

Dan…was that said, tounge-in-cheek? I went to both, once. The TC has to be the tackiest low class shopping centre in Europe, it ranks with Manchester’s Arndale and Liverpool’s St Johns. Cheshire Oaks is simply a waste of my petrol cost, as it can take some time to get into….and what for? The shine has gone from large city edge shopping centres, people want the mixture of a city centre and the multitude of attractions they provide.

By Anonymous

Anonymous – I think Trafford Centre’s visitor figures would suggest your opinion is somewhat off the vast majority of other peoples. People do want variety you’re right…and in and around the TC you can watch films, ski on snow, indoor skydive, play golf, and soon go to a spa. :-)

By Anon

“TC has to be the tackiest low class shopping centre in Europe”. Yeah, Selfridges and John Lewis are renowned for being ‘low class’.

By Loganberry

@Red Squirrel – Any city centre is a full day out and not just for shopping. It`s not something that`s just exclusive to Liverpool.

If they built a similar shopping mall & leisure complex somewhere like Speke, you`d be singing its praises.

By Anonymous

“If they built a similar shopping mall & leisure complex somewhere like Speke, you`d be singing its praises.” You can guarantee it would be “the greatest shopping center in the world”.

By Loganberry

I think some of the Liverpool posters on this website would do well to actually visit other cities, both around the UK and the world. They might realise that, despite being a pleasant enough place, Liverpool is not the majestic world megalopolis they seem to think it is

By Anonymous

@Anon

You compared Liverpool One to the Rock in Bury… so true! Liverpool is ok for shopping, but it is overrated.

By Anonymous

@Loganberry

Correct. If they built the worlds greatest ever shopping mall in Speke, Liverpool, I would sing its praises.
What I wouldn`t do is make jealous, bitter and infantile comments about it on PNW and other internet platforms about it.

By Anonymous

@William The Trafford Centre is tacky? I’m sure Selfridges would disagree, they decided to open a store there and make Manchester the first and only city with 2 Selfridges. Also inaccessible? It’s right next to a major motorway, connected to the tram network and has it’s own bus terminus. Maybe you should venture out of your little bubble.

The main issue with Liverpool One is the locals who frequent it, get rid of them and it might be a pleasant shopping destination.

By New Wave

Liverpool`s retail offering`s about average. That`s why you`ll hear so many Liverpool accents (mainly young females) at the Trafford Centre. The Liverpudlians who obsessively post about Manchester are an embarrassment to themselves and to their city. Living up to a national stereotype they think they don`t deserve.

By Anonymous

Great shopping centre with everything under 1 roof. Barton Square is really worth a look as well. I don’t know how you can’t have a good time when you go there. Nobody forces you to go.

By Robert

Tacky – low class (The Trafford Centre) I think you’ll find that the Trafford Centre has one of if not the highest average spend per customer in the UK for any shopping centre. I’ve seen the figures somewhere, but you only have to look at the make up of the shops that make up the centre to work that out. So many centres in the UK are full of pound, shops, and home bargain outlets….most of them just don’t compare.

By Manc Man

ANON said; Anonymous – I think Trafford Centre’s visitor figures would suggest your opinion is somewhat off the vast majority of other peoples. People do want variety you’re right…and in and around the TC you can watch films, ski on snow, indoor skydive, play golf, and soon go to a spa. :-)
But the Chill Factore etc isnt part of the Trafford Centre. The issue isnt about Manchester v Liverpool, its about the quality of the Trafford Centre and not what else is up the road. If it were that good, it would be making money and Intu wouldnt be going to its creditors…….it isnt working….thats obvious. No matter how many people go skiing etc, thats not helping the Trafford Centre..

By Anonymous

The Trafford Centre does very well, it is not the reason that intu are in trouble.

By Dan

Anonymous…then what ‘variety’ is there inside Liverpool 1 which isn’t inside Trafford Centre? (which wasn’t the point of the comment I was replying to). One could argue TC has much more variety under its one roof than L1. Both the TC and Arndale have many more millions of visitors than L1 – people vote with their feet (and purse). Intu’s issues go beyond the TC, the place is about 99% occupied.

By Anon

The TC certainly does attract a great number of people, but let’s be honest here; the decor is incredibly tacky. It was built at a time when all the faux Roman nonsense was perfectly acceptable. These days it looks dreadful. That’s not to take away from the fact that a great many people find the place entertaining to visit, but it is bloody ugly to look at.

By A different Anon