The company in charge of the 340,000 sq ft leisure and retail complex at the Trafford Centre is in talks with several parties interested in buying the asset after it was put on the market last year.
The directors of Barton Square Limited, part of the wider Trafford Centre group of companies that took over the running of the mall when its previous owner Intu Properties collapsed last year, confirmed they had been approached by numerous bidders looking to acquire the complex.
Savills was appointed as the agent for Barton Square in November and it is understood that bids in excess of £50m are being sought.
Barton Square was redesigned in 2018 as a 110,000 sq ft extension to the Trafford Centre as part of a £75m mall revamp that completed last year. The extension provided additional retail and leisure space and the arrival of anchor tenant Primark.
As well as Primark, which operates a 65,000 sq ft store, other occupiers at Barton Square include Legoland Discovery Centre, Sea-Life, and retailers Homesense and Next Home.
Laser combat firm Nerf Action Xperience is close to agreeing a deal to take 25,000 sq ft at the complex, while conversations with more potential occupiers are ongoing, according to Barton Square Limited.
Rebecca Ryman, speaking on behalf of the Barton Square management company, said: “Barton Square offers such exciting potential for retail and leisure brands, and that’s reflected in the conversations we’ve been having with operators as we build a new future for this strong centre.
“Everyone is aware of how tough things are right now in the market, but brands are also preparing to come out the other side with the launch of new European, UK or North West sites. The centre’s fantastic redevelopment, its strong tenant mix, and its position at the heart of the flourishing Trafford City presents so many opportunities for operators looking to take new space.”
In December, Canada Pension Plan Investment Board, which trades as CPP Investments, bought the Trafford Centre by exercising its share rights as the main secured creditor of the asset’s previous owner, Intu Trafford Centre Group, after Intu Properties collapsed into administration. The deal is believed to have been worth around £800m.