The 385,000 sq ft retail and leisure complex in Manchester city centre has been put up for sale with a £98m price tag, four years after its acquisition for £94m.
The entertainment venue sits on the corner of Withy Grove and Corporation Street. The scheme is home to a 20-screen Odeon Cinema, alongside 19 restaurants, bars and nightclubs, including the Hard Rock Café, Waxy O’Connors, Harvester, and Chiquito.
Land Securities bought the building from Resolution Property for £95m, as it sought to increase its exposure to the leisure sector. Its portfolio is now dominated by London assets, and it is understood that the decision to sell represents a decision to focus on its portfolio in the South East.
The complex was developed in 2000 by the Midlands-based Richardson family.
JLL has been appointed to market the building.